Hundreds of Australian suburbs suffer double-digit rent hikes

Rents have soared over the past year with hundreds of suburbs affected. Photo: Getty

Australia’s rental crisis has hit a fresh inflection point, with new figures showing more than 40 per cent of houses and units on the market have experienced double-digit price rises annually in May.

Data published by CoreLogic on Thursday revealed almost 1700 suburbs have recorded annual rental increases of 10 per cent or more, with prices up 0.8 per cent in May alone.