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Australia’s rental affordability drops to worst levels in nearly a decade

New report shows average households are spending a third of income on rent while lower income families pay more than half their earnings

Australian rental affordability has dropped to its worst levels in nearly a decade, with the average household spending a third of its income on rent, as the impacts of the Covid pandemic continue to be felt on the market.

Lower income households pay even more, with more than half of their income going towards their rent, according to new research from ANZ and CoreLogic.

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