Why rents continue to skyrocket | The Business

Australian renters are facing all-time high asking rents and record low vacancy rates across the country according to property marketplace Domain. In the March quarter, asking rents for houses saw their steepest quarterly gain in 17 years, and asking rents for units extended their record-breaking streak to 11 successive quarters of growth. Vacancy rates fell across all capital cities, except Hobart, and hit new lows in Sydney, Melbourne and Perth. But Domain's researchers say there's hope on the horizon for renters because conditions are expected to turn more in their favour later in 2024.
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