Aussies now paying $32k extra a year in rent as cost of living crisis worsens
Renters in some areas are now being forced to spend an extra $32,500 a year to keep a roof over their heads, as the cost of living crisis worsens.
Strong demand for housing and a limited supply of homes have caused a soar in the price of rentals, with some charging tenants an extra $600 a week.
In Rose Bay, NSW, about 8 km east of Sydney, has experienced a $625 increase in rental prices, with homes in the area now costing $2000 a week.
In nearby Vaucluse, the median weekly rental price is sitting at $3000, and Darling Point unit prices have shot up another $200 to an average of $1050 a week.
In Queensland, Clear Island Waters on the Gold Coast has had a $500 increase, with weekly rent payments now at an average of $3000.
A unit in nearby Main Beach, previously cost renters an average of $550 per week, but has now risen to $750.
h/t Simian_Stacker