SYDNEY -- Like most seeking a place to rent in Sydney, Tanakit Phaopin is used to large queues. With vacancy rates hovering currently around 1.7% in Australia's largest city, and 1.3% nationally, rental inspections often draw dozens of aspiring tenants, whose entrances are staggered to manage the volume.
With rents up nearly 40% in the last five years and vacancies at under 2%, Australia residents are finding it increasingly hard to secure housing. (Nikkei montage/Source photo by Getty Images)
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