Rent in Australian capital cities climbs record 11.7% in 12 months

The record increase is equivalent to about $63 a week, or $3,200 a year in rent.

In the past three months alone rent in capital cities increased by 2.8%, and with vacancy rates remaining well below the average rate of 3%-5%, rental rates are expected to continue increasing.

The report also said a rise in migration and the return of international students has led to increased demand for rental listings.

The Corelogic economist Kaytlin Ezy said it was the biggest increase the company had seen, with their records going back to 2007.