Australia confronts its worst rental affordability crisis in 17 years

A “for lease” sign is seen outside a set of apartments (AAP). Source: AAP / MICK TSIKAS/AAPIMAGE

Australia is facing its worst rental affordability crisis in 17 years, with soaring rent prices outpacing income growth, affecting millions. The latest PropTrack Rental Affordability report finds households on the median income of $110,000 per year could only afford 39 per cent of available properties to rent.

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