Australian rents are rising at the fastest rate since the GFC – and from a higher base

Rental prices have increased at a pace not seen across Australia in 15 years, according to Corelogic’s Rental Value index. Photograph: Blake Sharp-Wiggins/The Guardian

Rents across Australia have risen at the fastest rate in at least 15 years, according to Corelogic’s Rental Value index.

Annual rent increases, which are calculated monthly, topped 10% in late 2022 and early 2023. The last time rents increased at such a pace was in 2007 during the global financial crisis, when peak annual rent growth reached 9.7%.