Families flock to rental market as they’re priced out of home ownership

Abstract

Decades of sky-rocketing house prices have driven the highest proportion of Australians into the private rental market since 1960, with up to 7 per cent of poor households paying three-quarters of their income to landlords.

In a report that found the private rental market worked well for most people, the Productivity Commission said the entire market was changing rapidly, in part due to the surge in house prices that was leaving families, the disabled and those over 65 most at risk.