Queensland renters hit with price hikes up to $170 a week across 801 suburbs

House prices falling, rent prices up Renters in 801 Queensland suburbs have been hit with punishing price hikes of up to $170 a week over the past three months alone, as the state’s rent crisis runs on despite the nation’s housing downturn. An analysis of Realestate.com.au’s September quarter rent data reveals the sheer scale of rent pain, with 92 per cent of all house or unit markets notching up annual increases. Greater Brisbane’s median weekly rent pushed to $680, up $40 over the past year, while the rest of Queensland was close behind, jumping $35 to $625. The quarterly suburb breakdown revealed more extreme shocks, led by inner-city Bulimba where house rents surged $170 to $1,270 since July. No relief in sight for Brisbane renters Realestate.com.au economic research manager Angus Moore said the disconnect between falling home prices and surging rents was driven by an “extremely tight” lack of supply, rather than landlords simply passing on interest rate hikes. “Mortgage rates directly flow through to borrowing capacity and therefore home prices, and so the four rate hikes we’ve seen are pushing down home prices,” Mr Moore said. “There isn’t a strong link between rate hikes and...