Australia’s capital cities record largest ever annual rent increases as housing crisis worsens

Melbourne has seen the steepest jump in median rent – an increase of 1.4% in the past month to $543. Photograph: James Ross/AAP

Australian capital cities have once again recorded their strongest ever annual rent increases, amid a rapidly worsening housing crisis.

Rent has also exponentially increased across the country, with over 40% of suburbs recording rental increases of 10% or more in the past year.