According to a recent analysis, renters in Australia are paying $15,000 more year to maintain a roof over their heads as a result of the startling price increases that have occurred since the COVID-19 outbreak.
According to Everybody’s Home study, renters in the capital city are paying, on average, $14,700 more for a house and $9600 more for apartments annually than they did in 2020.
With price rises significantly higher than the national average, Sydney saw the biggest increase in house rents, while Perth saw the largest increases in unit rents.
Renters in the harbour city pay on average about $350 more per week for house rentals and $200 more for units, equating to about $18,500 and $10,450 more every year, respectively.
Perth unit renters are slugged with the highest costs across the nation, spiking by $14,500 annually, or an increase of $279 per week, while those renting houses are forking out $356 per week more, or $18,500 annually.
Adelaide and Brisbane unit renters also face above-average unit price costs, increasing by $196 and $199 per week, respectively, equating to renters paying more than $10,000 a year.
House rentals also increased similarly across the two cities with Brisbane experiencing a $13,468 spike annually and Adelaide with a $13,312 increase.
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