Median unit in harbour city now costs more than median house in every other capital, Domain says, as immigration adds to rental ‘pressure cooker’
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Rents continued to climb across Australia in the June quarter, particularly in the biggest cities, with a median unit costing more to rent in Sydney than a median house in every other state capital, data from Domain showed.
A record migrant intake that will swell the nation’s population by 715,000 people over two years and a return of overseas students and temporary visa holders will add to the “rental pressure cooker”, Domain said in its quarterly report. About 127,000 additional dwellings will be needed this financial year alone.
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