Rents in Australia Rise 44 Percent in 5 Years as Vacancies Hit New Low

Rents across Australia have soared by nearly 44 percent in the last five years, according to a new report.

The Cotality National Rental Value Index, released on Oct. 8, showed national rents rose 4.3 percent in the year up to September to an average of $672 a week, including both capital cities and regional areas.