Record rents hit Australian capital cities as low vacancy rates persist

Record high rents are now a reality for Australians across all capital cities due to low vacancy rates. Property website Domain reports accelerating rental growth, with Sydney seeing its strongest quarterly increase in four years. This is driven by population growth and insufficient rental supply. The national median weekly advertised rent has reached a new high. Experts predict challenging conditions for renters as investor activity potentially decreases, further tightening supply.