Rental Affordability Crisis Deepens in Australian Capital Cities

Rental affordability in Australian capital cities is worsening, with a steep decline in the availability of rental homes costing less than $400 per week. Surging rents and a limited supply of available rentals have exacerbated the situation.

Economists attribute the rising demand to increased migration, which has significantly driven up rental prices. This trend is severely impacting low-income households and poses potential challenges for the Reserve Bank’s interest rate decisions.