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Rental crisis 'continues'

Australians for Affordable Housing has warned that rents continue to be too high in the country's capital.

Property lobby group Australians for Affordable Housing (AAH) has cited new rental figures as indicative of a significant dysfunction in the Australian property market.

 

 

New data has revealed rents in Sydney, Canberra and Perth rose at a level beyond the rate of inflation.

 

 

Rents grew by 6.4 per cent in Canberra over the December quarter, while they increased by 5.3 per cent in Perth and 3.2 per cent in Sydney.

 

 

AAH campaign manager Sarah Toohey said the figures, published in the Australian, reinforce the need for government action.

 

 

"These figures show that if we leave it to the market rents will continue to rise and tenants will continue to suffer record rates of housing stress," Ms Toohey argued.

 

 

She added that with more than a quarter of renters already suffering from housing stress, any further increase in costs could prove disastrous.

 

 

Figures from AAH suggest the rate of home purchase for 25 to 44-year-olds has declined by 15 per cent in the last 20 years, forcing more people into the rental market.

 

 

Posted by Steve Douglas

- property, rent, crisis, AAH, housing, prices, Sydney, Canberra, Perth

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