It's never been harder for Australians to find a rental under $400. Here's why

the number of affordable rentals has hit a record low, according to a new report.

In regional areas, the share of rental properties advertised for less than $400 per week fell from 57 per cent to 28 per cent. Catherine Birch, senior economist at ANZ Research, says in addition to the increase in demand, Australia has faced limitations in the amount of new housing it is able to build, partly due to supply chain issues in the construction industry.

The COVID-19 pandemic has also had a significant impact on Australia's real estate market, and has impacted rental availability in two key ways, Mr Moore says.

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