Apartment supply failing to keep up with population growth could see Aussies spending over $1000 per week on two-bedroom apartments by 2030, according to new data from CBRE’s Apartment Vacancy and Rent Outlook.

The report states that by the end of the decade, rental shortages in Australia’s biggest cities will see vacancy rates drop drastically, driving up prices by an average of 24 per cent across our capitals.

The result will be one in three two-bed apartments renting out for more than $1000 per week, with 92 per cent of two-bedroom apartments forecast to have rents exceeding $700 per week.

However, the report found it was still cheaper to rent than buy, with monthly rents 30-40 per cent cheaper than alternate buy options at current prices.

As well as more expensive, the report proje

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