Rents hit record high as housing shortfall bites hard

Cottesloe in Perth is one of the few suburbs outside Sydney to attract four-figure rents. (Richard Wainwright/AAP PHOTOS)

Australia's growing cohort of renters are being pushed further to the fringes of capital cities as rents hit a record high.

The median rent across the nation is $627 a week, ranging from $547 in Hobart to $770 in Sydney, according to property data provider CoreLogic.