In Australia, rental prices have surged to a record high, with the national average weekly rent now reaching $627. This increase has been particularly impactful in Sydney, where the average weekly rent is the highest in the country. The spike in rental costs is causing significant concern for the Reserve Bank of Australia (RBA) and pushing renters to the fringes of capital cities. CoreLogic's latest quarterly rental review highlights these trends, indicating a nationwide strain on affordability.
Rents have reached a record high with the national average weekly cost now at $627, pushing renters further to the outskirts of capital cities across all states. https://t.co/4O9hXEbVNX
Rents have reached record prices around the country, with Sydney averaging the country's highest weekly rent. New data has revealed the suburbs where tenants have been slugged with the highest bills. #9News FULL LIST: https://t.co/hhePts5pFU https://t.co/8pMk1zphwZ
CoreLogic has released its quarterly rental review https://t.co/rS8mH3zGE0
Australian rents hit a fresh record in April. Read today's Australia Briefing, by @ainsley_thomson, for your daily dose of the best of Bloomberg from Down Under and around the world. https://t.co/spsefhwVoX
Australia's growing cohort of renters are being pushed further to the fringes of capital cities as rents hit a record high. https://t.co/7axywFRYH3
🇦🇺 #Australia’s Housing Rent Hits Record High in Headache for #RBA - Bloomberg https://t.co/MIsUUMPAGu https://t.co/aQcBLGJEdB
Australia’s housing rental value hit a fresh record in April, a troubling sign for the central bank https://t.co/KOM1oXC6Uz