The uncomfortable truth about Australia's rental crisis

This week in The Fin podcast, reporter Michael Read on what has caused this rental squeeze, how it’s affecting the economy and what’s being done to fix it. Background reading: Record monthly rent surge is a timebomb for inflation Asking rents in capital cities jumped a record-breaking 2.4 per cent in the past 30 days, triggering fears that the increase will further stoke inflation. Why rents are only going higher In the past 12 months, rents surged at a record-breaking pace of 14.6 per cent for houses and by 17.6 per cent for units as vacancies plummeted to a record low. The suburbs that are home to Sydney’s biggest NIMBYs Councils in Sydney’s eastern suburbs and lower north shore are the city’s most anti-development local government areas, with new research showing aggressive NIMBYism is driving property prices higher amid chronic under-building. See omnystudio.com/listener for privacy information.