Rental market Australia: Covid-19 pandemic sparks housing crisis

Abstract

Researchers from the Australian Council of Social Service (ACOSS) and University of NSW (UNSW) found that soaring rents was an issue across the country, especially in regional areas.

The research also pointed out flaws in the nation’s investment in social and affordable housing, noting that while some states’ investments would add more than 23,000 new homes, more than 400,000 households would still be in need of affordable housing.

While rents declined sharply in some inner city suburbs at the start of the pandemic, from mid-2020 they increased and by August 2021 were accelerating at more than 8 per cent – the fastest pace since 2008.

But the report found the rapid rent acceleration wasn’t just confined to the cities.