The rental market in Australia is seeing a significant shift as high-income earners increasingly dominate the private rental sector, squeezing out lower-income households, according to PropTrack.
“High income earners are squeezing lower income earners in the rental market, highlighting the urgent need for more affordable housing,” said Eleanor Creagh PropTrack senior economist.
The shift is detailed in a recent Australian Housing and Urban Research Institute (AHURI) paper, which showed that higher income earners have grown from representing 8% of the private rental market in 1996 to 24% in 2021.
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