The Too Hard Basket - Why is it so expensive to rent a home in Australia?

We often hear about new policies and programs that promise to improve the lives of Australians. But what about the issues that are too stigmatised, and seem to be taboo for policymakers to address? In this episode, we'll look at the skyrocketing costs of renting a property in Australia, which almost everyone agrees has put a lot of people under immense pressure. So why do we have this issue? And what can be done to change the system?

A ‘Lease’ sign is seen outside a townhouse complex in Canberra, Friday, October 21, 2022. (AAP Image/Lukas Coch) NO ARCHIVING Source: AAP / LUKAS COCH/AAPIMAGE

The Great Australian Dream has always been, so it would seem, to own a house.

But the proportion of Australians who rent has been steadily increasing - a third are now tenants, many for long periods of time.

The extent of those rental price increases have now been confirmed in two separate sets of numbers.

Figures from the Australian Bureau of Statistics show the price of the most expensive ten percent of rentals soared by ten percent over the past year, compared to seven percent for the cheapest ten percent of rental properties.

A survey by PropTrack also indicates that capital city rents have increased 13 percent year-on-year, to now sit at $520 per week, while regional rents were up by 4.5 percent.

Click on the audio play button above to listen more...

Here's how to follow SBS Gujarati on our other digital and social media platforms.

SBS Gujarati Website: Bookmark our website  www.sbs.com.au/gujarati  

as a favourite.

SBS Radio App: Download SBS Radio App from App Store or Google Play and listen to podcasts and our live radio program.

Listen to news and interviews in Gujarati: Follow SBS Gujarati on Apple Podcasts, Google Podcasts and Spotify.

Listen to SBS Gujarati every Wednesday and Friday at 4pm.