Australian Rents Rise at Fastest Rate in 15 Years

An aerial view of suburban houses in Sydney, Australia, on April 22, 2020. Ryan Pierse/Getty Images

The Australian rental market has risen at the fastest pace since May 2007, with the national rental rate up 3.2 percent over the first quarter of this year, property researcher CoreLogic found.

However, Corelogic’s research director Tim Lawless said the growth was uneven, and the “headline reading hides the sheer diversity” of market conditions around the country.