Rents rise by up to 80 per cents in parts of Australia

In Australia, rents have skyrocketed by as much as 80% in some major cities over the past five years, according to Cotality data. This dramatic increase is causing significant financial strain for many renters, especially in hotspots like Sydney and Melbourne. The surge is attributed to a combination of factors, including high demand, limited housing supply, and economic shifts. This trend underscores the urgent need for policies that address housing affordability and ensure sustainable growth in the rental market.