“Extreme” rental inflation is putting severe pressure on young Australians.

CoreLogic’s rental results for May reveal that the growth rate of Australian rents has slowed in recent months. The national rental index rose by 0.7% in May, marking the slowest monthly increase since December last year. Most capital cities have seen a decline in rental growth compared to the first quarter when rental demand is typically higher. This slowdown is especially notable in the unit sector. Over the past year, rents have increased by 8.5% nationally, down from 8.9% the previous year and 9.3% two years ago.