Cars rental prices from Melbourne to Brisbane have dropped to as low as $20 per night from their highest ever levels.
The Australian Bureau of Statistics said the average price of a car rental in Perth and Adelaide fell to $19.98 per night in November.
It said the lowest rates in Melbourne and Adelaide were $17.99 and $17,086.
The lowest rates are in Darwin, where the average was $18.01 per night.
The bureau reported that the average cost of a vehicle was down $6.1 on the previous year, but prices were still rising at the fastest rate since August.
According to the bureau, the average rate of rental for a car is now $1,400.
Cars are cheaper than ever before.
“While Australians are spending more on car ownership, their monthly incomes are declining and the number of people living in housing that are unable to afford housing is rising,” bureau deputy chief economist Ian Morrison said in a statement.
Despite the slow recovery in car prices, Morrison said the economy is recovering.
“[Australia’s] economy is growing, but wages are still falling and people are spending less, so the cost of living is continuing to rise,” he said.