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Australia’s rental crisis continues in earnest.
Following March’s 0.7% in national median advertised rents, rents in Australia have risen by an extraordinary 48% since December 2019, adding more than $11,700 to the annual cost of renting the median home:
The rental vacancy rate has also fallen to a historical low, at half its level in March 2020, just as the COVID-19 pandemic was beginning.
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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.