Australians allocate record 33.1 percent of income to soaring rents

Australians face soaring rental costs, with households committing a record 33.1 percent of gross median income to rent. Despite national rents rising 5.7 percent year-on-year, some suburbs offer mortgage repayments lower than rent, creating purchasing opportunities. In Ultimo, renters could save $274 weekly by opting for a mortgage instead of renting.

Summary by OZbrief · Brisbane Times