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Record immigration, nowhere to live. Welcome to Australia’s rent crisis

Record immigration, nowhere to live. Welcome to Australia’s rent crisis

A growing population, subdued construction and government inaction means people who don’t own their home should brace for more rent rises. How bad will it get?

For Meg Edwards, it was $30 that sealed the deal.

The 20-year-old international relations student and her two housemates were struggling to find a home in Melbourne’s hypercompetitive, inner-city rental market, having inspected close to two dozen properties over the course of a couple of months.

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Michael Read
Michael ReadEconomics correspondentMichael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com

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Original URL: https://www.afr.com/policy/economy/record-immigration-nowhere-to-live-welcome-to-australia-s-rent-crisis-20230331-p5cwzb