Adelaide records largest annual rent increase since 1990

Cost of living pressures haven't eased in South Australia, with renters having to pay a huge increase over the past year.

Transcript

00:00 It's not great news for South Australians who are renting.

00:04 That is because Adelaide has recorded its highest annual increase in rental prices since

00:09 December of 1990.

00:11 Consumer price index data shows that rental prices have gone up 7.1% since September of

00:19 last year.

00:20 Now, that increase in prices is actually more than the national inflation rate, which sits

00:27 at 5.4%.

00:29 And to put that into a bit of context, if you're paying $500 a week rent here in Adelaide

00:36 in September of last year, you're now paying an additional $35 a week.

00:40 And that adds up to nearly $2,000 a year.

00:45 Dr Rebecca Tuher from the South Australian Council of Social Services, she's calling

00:50 on the state government to put a cap on the rental price increases so it's in line with

00:56 inflation, that she's also wanting to see more public housing here in South Australia

01:02 as well.

01:03 That data comes as all households are being hit hardest by cost of living pressures.

01:10 An inquiry looking at price gouging on essential items, that gets underway in Adelaide today.

01:17 That's led by the Australian Council of Trade Unions.

01:21 They're also going to be looking at how business profits are contributing to inflation.

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