Rental prices have soared 7.9% annually - the largest jump since the global financial crisis.

Video transcript

- This is one reason why Aussie renters are struggling to buy a house. Rental prices have soared 7.9% annually, the largest jump since the global financial crisis. According to research from the Parliamentary Library, on average, renters are paying the equivalent of a house deposit in rent every five years.

The research used Australian Bureau of Statistics data and estimated the average renter had paid $106,550 per household over five years. However, the data does rely on some broad assumptions, including paying an average rent of $401 per week. And according to the Library, it doesn't reflect any particular individual circumstances.