For many Australians, the rent crisis is just starting. Advertised rents have been soaring, but mainly for new rentals – so called “asking rents”.
The broadest measure of rents actually paid – the rents on the 480,000 or so capital city properties the Bureau of Statistics uses to calculate the consumer price index – has climbed only modestly, increasing 3.5% in the year to October.
Rent cuts during the first year of COVID mean the Bureau’s measure of capital city rents is just 2.2% above where it was in February 2020, ahead of the COVID lockdowns.
But advertised rents are climbing steeply. According to property consultants SQM Research, they are an extraordinary 35% higher than in February 2020.
Balanced article from The Conversation (which usually leans very far left).
What would fix this properly though, is having a sound and sensible government that understands printing / lending money creates inflation.
"The bill comes due." - Baron Mordo