Australian Rents Are Rising at the Slowest Pace in Three Years
- Rents, a key input for quarterly CPI, still hit new high in 4Q
- Sydney and Melbourne rents have flatlined for six months
Australia’s rents still made a new high of A$620 ($386) per week in the December quarter.
Photographer: Brendon Thorne/BloombergThis article is for subscribers only.
Australian median rents rose 6.9% in the three months to December from a year ago, the slowest pace since 2021, according to data from REA Group Market Insight.
Nationwide rents still made a new high of A$620 ($386) per week in the December quarter, figures by the consulting firm released Thursday showed, underlining the living cost pressures that Australian households are grappling with.