Rents to rise by $5,000 in 59 locations across Australia

If you are on the search to rent a house this year you ought to be prepared to pay $5,000 or more this year than last year. And the finish line for this sharp rising national rental trend is nowhere in sight.

Thought-leading property market analysts and national buyer’s agency, Propertyology, is forecasting that the advertised price to rent a standard house will increase by $5,000 or more in the 2022 calendar year in 59 individual cities.

Adelaide, Brisbane, Canberra and Perth plus 54 regional locations across Australia.

In alphabetical order, they are Airlie Beach, Albany, Albury, Ballina, Batemans Bay, Bathurst, Bendigo, Bowral, Bundaberg, Burnie, Busselton, Cairns, Coffs Harbour, Dubbo, Esperance, Geelong, Geraldton, Gladstone, Gold Coast, Gosford, Goulburn, Gympie, Hervey Bay, Kiama, Kempsey, Kingscliff, Launceston, Lismore, Lorne, Mackay, Maitland, Maryborough, Mount Barker, Mount Gambier, Mornington Peninsula, Mudgee, Newcastle, Noosa, Orange, Port Macquarie, Rockhampton, Sunshine Coast, Toowoomba, Torquay, Townsville, Traralgon, Wagga, Wangaratta, Warrnambool, Warragul, Warwick, Wodonga, Wollongong, Yamba and Yeppoon.

For perspective, the total national population increased by 1.5 million over the last 5-years so one would expect a significant increase in the total volume of dwellings advertised for rent over that period. Alas, it reduced from 86,683 in December 2016 to a piddly 57,558 in December 2021.

Propertyology Head of Research, Simon Pressley, says he’s genuinely concerned that this rent crisis my cause widespread civil unrest.

He says the combination of the growing number of wannabe tenants living in makeshift accommodation, pressure on tenant’s household budgets from rising rents, and landlords being squeezed at every corner is toxic cocktail.

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