Australian tenants finally catch a break

Australian tenants have faced a torrid period since the pandemic, with advertised rents nationally soaring by more than 40% over the past five years.

Gerard Burg, Cotality’s Head of Research, noted last month that “the median rent has risen by over $200 per week in the last five years” and that households were “paying a record proportion of their income to rent”.

Finally, the rental situation does appear to be easing. Cotality’s latest monthly data shows that rental growth is moderating amid rising vacancy rates.