Reuters GraphicsNEARING THE PEAKMany tenants, particularly in the most expensive city Sydney, have already been priced out of houses.
PropTrack data showing house rents nationally were unchanged at A$550 per week, or about A$2,380 ($1,508) per month, in the September quarter.
Apartment rents nationally jumped 4% during the quarter, double the June quarter rate of increase, to an average of A$520 per week, making them almost as costly.
Prices across Australia's entire rental stock rose 7.6% in the third quarter from a year ago, the largest increase since 2009, according to official data, and similar to gains seen in the U.S. where rental costs have also surged.
($1 = 1.5780 Australian dollars)Reporting by Stella Qiu; Editing by Wayne Cole and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.
Persons:
Lara Weeks, Weeks, Cameron Kusher, Michele Bullock, Christian Postiglione, Tim Beattie, Beattie, Stella Qiu, Wayne Cole, Jamie Freed
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REA, Reuters Graphics, Reserve Bank of Australia, Nationwide, ANZ, Housing, Thomson
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SYDNEY, Sydney, U.S, Bondi, Australia, Western Australia, Adelaide