Rents in Australia rose at the fastest quarterly pace over the three months to September and are set to continue climbing, according to the latest PropTrack Market Insight Report.
Median weekly rent prices rose 4.3 percent over the September quarter, following a 2.2 percent rise in the previous quarter.
Advertised rental rates also grew 10.3 percent over the year, which is also the largest annual rise on record.
The national median rent for houses was $500 (US$326) and for units was $450, with the $50 gap remaining at the widest differential on record.
Rents for four bedroom houses recorded the greatest increase, followed by five or more bedroom houses and one-bedroom units….