Australian rental prices going through the roof
Updated
New figures on Australia's housing market reveal there has been double-digit rent increases in Sydney, Brisbane, Melbourne and Perth.
Australian Property Monitors say the biggest increase has been in the western city of Perth, where rent on units has jumped 25 per cent in a year, while rent on houses has increased 17 per cent.
In Melbourne, rent on houses jumped 17 per cent and units 13 per cent.
APM's Michael McNamara says it is putting more and more people into rental stress.
"On one hand we've got landlords that are desperately trying to offset the increased costs of servicing a mortgage with rental increases to their tenants, and on the other hand with rising mortgage costs renters are deterred from making the move into home ownership," he said.
