A recent survey has confirmed that renters in Australia are feeling the strain this Christmas, with rents increasing by as much as $3,600 over the past year. Research conducted by Everybody’s Home, which analysed SQM Research’s weekly asking rent data, reveals that tenants in capital cities are facing an average annual increase of $1,593 for houses and $1,084 for units.
Adelaide renters in units have experienced the greatest hike, with an additional $3,634 required this year, while house renters in Perth shell out an extra $2,985. In Sydney, the increases are significant as well, with unit rentals rising by approximately $398 and house rentals by $1,107. Melbourne renters are paying about $1,234 more for apartments and $1,716 more for houses, with Brisbane seeing similar trends.
With costs skyrocketing, Everybody’s Home is calling for urgent action. Spokeswoman Maiy Azize emphasises the struggles Australians face under the burden of rising rents and urges political candidates in the upcoming elections to prioritise affordable rental solutions. As the festive season approaches, many Australians are left grappling with the reality of a tightening rental market.