I guess only Perth can afford it and depend on where you live.
Rent in the CBD,like coogee can go up to $1000/w. And people still rent it, I guess some people just want to be mortgage free and the luxury having a great life style.
But you must ask whether the prices of renting can go up forever.Somehow the renter may go broke one day, and they stop paying the rent.
The laws in Australia seem to protect renter more than landlord.
I remember it took me almost 5 months to kick my tenant our of my house,because they misses out two month payment.
After long court battle Raine and Horne finally get them out.
