Rent Increase in Australia 2025-2035.
An article from realestate.com.au is saying that Australian tenants could be paying $10,000 more a year by the end of the next 10 years (2035), IF historic norms continue.
The projections, following previous trends, would lead to the nation’s $650 a week typical rent, for a house, increasing to $830 a week, dragging the annual cost for renters from $33,800 to almost $44,300.
That is an average annual increase of 2.475% each year up to 2035, going from $650 weekly in 2025, to $830 weekly in 2035
If these rent increases were at the same percentage rate each year, the average weekly rents would become:
$650 in 2025
$666 in 2026 = $16 increase
$683 in 2027 = $17 increase
$700 in 2028 = $17 increase
$717 in 2029 = $17 increase
$735 in 2030 = $18 increase
$753 in 2031 = $18 increase
$772 in 2032 = $19 increase
$791 in 2033 = $19 increase
$810 in 2034 = $19 increase
$830 in 2035 = $20 increase
Property Investors Council of Australia (PICA) are encouraging landlords to increase their rents by 4-5 per cent, while vacancy rates are low.