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Cotality (formerly CoreLogic) estimated that rental payments were chewing up a record 33% share of household income at the end of last year.
Cotality’s June quarter Rental Review estimated that weekly rents nationally have increased by $200 (43%) over the past five years, meaning that the median Australian tenant is now paying an extra $10,350 per year to rent the median home.
Source: Cotality
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.