Australia’s Soaring Rents: A Deep Dive into the Growing Property Market
In recent times, Australia has witnessed an unprecedented surge in its rental market, with annual rent increases hitting double digits and pushing past levels not seen since the Global Financial Crisis (GFC) of 2007. This meteoric rise, however, comes from a higher base than ever before, making it a cause for concern among housing advocates and low-income earners alike. In this blog post, we will explore the factors behind this surge in rents, its impact on households, and the need for a reimagined approach to the rental market.