Relief could be on the way for renters facing record high prices

Property agent Eric Wong says relief for renters facing record high rates could be on the way. Millions of Australians are facing all-time high prices, after asking rents for houses and units jumped in the March quarter. Vacancy rates are at record lows in Sydney, Melbourne, and Perth. While rates in Adelaide and Brisbane are not much better. “There is less, and less people looking to rent now because of the rent being so high. “A lot of people are actually staying put and are trying to negotiate with the current landlord. “I think the supply might start to increase when people start to move out, when they buy their new home, so there could be relief coming soon.