A recent study confirms that annual rent has risen by $3,600 this year compared to last year.
The analysis, based on weekly rental data from SQM research, highlights the growing strain on Australians amid a cost-of-living and rental housing crisis this Christmas.
Reports indicate a steady rise in annual rent rates from December 2023 to December 2024, with Australian capital cities experiencing the most significant increases.
According to the findings, renters in apartment units now pay an extra $1,593 annually on average. Adelaide apartment renters faced the largest jump, with costs increasing by $3,634, followed by Perth renters, who paid $2,985 more.
In Melbourne, the situation differs slightly—apartment renters are paying an additional $1,234 annually, while single-family home renters are shelling out an extra $1,716.
Australians continue to grapple with these escalating costs, with no immediate relief in sight.
