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.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you