Rents on the Gold Coast are now out of reach for hundreds of thousands of people, with the Glitter Strip far more expensive than Sydney and every other capital city in the country.
According to realestate.com.au, rents for houses on the Gold Coast jumped another 2.1 per cent in the last quarter and are now up 7.8 per cent for the year.
The median rent for houses is now $970 a week.
That’s way above Sydney, where the median rent for houses is $800 a week, while in Brisbane it’s $700 a week.
Rents for units on the Gold Coast grew at a slower pace, but were still up 1 per cent for the quarter and 7.1 per cent for the year.
The median weekly rent for units on the Gold Coast is now $803, compared to $750 and $650 in Brisbane.
The increase in rents on the Gold Coast far outstripped the rest of the country.
Capital city rents increased 4.6 per cent in the last year, while rents in regional areas were up 4.3 per cent.
