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

Data shows annual rent increases in all major cities topped 10% last year as advocates warn low-income earners are being priced out of the market

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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%.

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