Annual growth in housing rent in Australia has reached a 14-year high, making life more difficult for renters across the country at a time when interest rates continue to hike.
According to CoreLogic’s Quarterly Rental Review, the national rental index grew by 0.9 percent in the month to June and 2.9 percent in the June quarter.
In addition, rental rates soared by 9.1 percent in capital cities and 10.8 percent in regional areas in the 12 months to June.
“This sustained period of strong rental growth has seen national dwellings record the highest annual growth in rental values since December 2008,” research analyst Kaytlin Ezzy said….