A new analysis has shown that Australian households who do not own their place of residence now have to spend nearly a third of their income on rent, with spending expected to remain high in the near future.
According to a housing affordability report by ANZ Bank and real estate data provider CoreLogic, the portion of income required to service new rents nationally jumped to 30.8 percent in March 2023, the highest level since June 2014, before the boom in apartment completions.
