Summary
- Sydney house rents have increased by $356 weekly, equating to an additional $18,512 annually.
- Perth house rents have climbed by $352 weekly, resulting in a yearly increase of $18,304.
- Renters in major cities are paying significantly more for housing compared to January 2020.
- The sharp rise in rental prices is putting immense pressure on households, leading to severe housing stress and potential homelessness.