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Rental crisis in Australia prompts calls to build more homes
Record low numbers of available rental units; rise in rates set to reach 13%, fastest in 14 years
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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 have increased by almost 10 per cent to A$526 (S$505) a week, though weekly rents in the city of Canberra were as high as A$690, and Sydney rents were at A$643.
