Rent caps ruled out in NSW amid soaring rental prices in Australia

Renters in New South Wales won't feel any immediate relief from the cost of rising rents after Premier Chris Minns ruled out a cap on rental increases. Instead, Mr Minns says his government is focused on long-term solutions.

The percentage of rental properties available in Australia, known as the vacancy rate, is at an all-time low. CoreLogic and SQM Research shows the national vacancy rate in February was 1 per cent. Source: AAP / Flavio Brancaleone

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