The ACT needs a $100 million public investment in community and public housing to deal with skyrocketing rents and one of the tightest rental markets in the country, according to the ACT Council of Social Services.
It may be good news for landlords but the latest figures from the Domain Rent Report show the cost of renting a house in Canberra has spiked eight per cent in a year, and is now the third highest in the country behind Darwin and Sydney.
The median cost of renting a house in Canberra was $540 a week in December, up from $500 a year earlier, while apartments at $430 a week were second only to Sydney ($545).
Darwin and Sydney house rents were $550 a week but little changed over the year in contrast to Canberra, which is now entering its most difficult time of the year for tenants as workers move to the capital for new positions and students scramble for accommodation.
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