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Australia is suffering its worst rental crisis in living memory.
Advertised rents have soared by around 47% since the end of 2019, according to Cotality, adding around $11,470 to the annual cost of renting for the typical Australian:
Australian rental vacancy rates are also tracking at historical lows, at around half pre-pandemic levels:
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.