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Rental crisis in Australia behind push to build new homes
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Newly built houses in the Denham Court suburb of Sydney.
PHOTO: BLOOMBERG
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SYDNEY - A surge in demand for rental homes in Australia has led to record low numbers of available properties and prompted calls to either open more land for development or impose a nationwide rent freeze.
In the past year, average rental prices increased by almost 10 per cent to A$526 (S$503) a week, though weekly rents in the city of Canberra were as high as A$690, and Sydney rents were at A$643.
