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The Greens are calling for a nationwide two-year rent freeze to allow incomes to catch up with surging prices.

The party also wants to see rent increases capped at two per cent every 24 months once the two-year suspension lapses.

"Rents are out of control, millions of Australian renters are struggling to pay the rent, and unless the government wants to see more families sleeping in their cars they need to do their job and act now to stop this crisis boiling over into a national tragedy," Greens housing spokesperson Max Chandler-Mather said.

In the 12 months to June, rents have soared 9.1 per cent across capital cities and 10.8 per cent in regional areas, CoreLogic data shows.

The proposal would see wages catch up with rents by the end of the decade.

The party also proposed an end to no-grounds evictions, which allow landlords to evict tenants without providing a reason if they are no longer covered by a fixed-term lease, and minimum standards for rental properties.

The party pointed to rental freezes during the pandemic and the use of rental controls around the world to support its proposal.

While rental control measures are often criticised as disincentive to construction of more low-cost rental properties, Mr Chandler-Mather told AAP there was no evidence rent stabilisation and rent control decreased the supply of housing in the research on the subject.

"In some instances, that actually increases the supply of affordable housing to buy because some investors might sell their homes which is actually a good thing," Mr Chandler-Mather said.

He added that rent control should be considered as part of a holistic strategy to improve housing affordability, such as introducing a vacancy levy, phasing out negative gearing and capital gains exemptions and building more public and social housing.

The policy proposal follows a report showing rentals have become so expensive and hard to find that it's stopping workers from moving to regions for new job opportunities.

© AAP 2022

The federal government is not actively considering a rent freeze as proposed by the Greens, Treasurer Jim Chalmers says.

The Greens are calling for a nationwide two-year rent freeze to allow incomes to catch up with surging prices as well as an ongoing policy to cap rent increases at two per cent every 24 months.

However, Dr Chalmers recognised skyrocketing rents were a major part of the inflation problem, and that employers in regional areas were struggling to attract staff because of a lack of available housing.

Dr Chalmers said the government would focus on boosting supply to combat the housing crisis.

"That's why we have the Housing Australia Future Fund that's building more affordable homes, and I'm working with the super industry and the states to see if we can build more stock," he said.

Prime Minister Anthony Albanese was unsure how a national rental freeze would work in practice.

"It's not clear to me, short of nationalising property, how that could be achieved," he said.

Rent control policies like the one proposed by the Greens can have the unintended consequence of restricting the supply of new housing, economists say.

Independent economist Saul Eslake said the Greens' proposals would likely discourage investment in new rental housing because would-be investors would turn to other kinds of investments if they were no longer able to make solid returns in the rental market.

If rent controls were introduced, he said more properties would likely become available to buy if investors decided to sell, which would reduce demand on the rental market.

"But the probability is that those previously frustrated would-be home buyers who might purchase properties from landlords who choose to exit the market would be more affluent than the majority of renters," Mr Eslake told AAP.

He said increasing the supply of rental housing was the most effective solution to unaffordable rentals, and that government investment in social and affordable housing was central to boosting supply.

Real Estate Institute of Australia president Hayden Groves said the Greens' idea was well-intentioned but would do nothing to ease housing supply shortages in the long run.

"The real estate industry, particularly property managers and owners, have implemented the rental eviction moratorium during the past two years of the COVID pandemic," Mr Groves said.

"At the same time, rent has increased in areas where there is a chronic shortage of supply and unless this is addressed, the situation will worsen."

The Greens also want an end to no-grounds evictions, which would stop landlords evicting tenants without providing a reason outside of fixed-term leases, and minimum standards for rental properties.

The party pointed to rental freezes during the pandemic and the use of rental controls around the world to support its proposal.

"Rents are out of control, millions of Australian renters are struggling to pay the rent, and unless the government wants to see more families sleeping in their cars they need to do their job and act now to stop this crisis boiling over into a national tragedy," Greens housing spokesperson Max Chandler-Mather said.

The proposal would see wages catch up with rents by the end of the decade.

Mr Chandler-Mather said rent control should be considered as part of a holistic strategy to improve housing affordability, with measures such as introducing a vacancy levy, phasing out negative gearing and capital gains exemptions, and building more public and social housing.

© AAP 2022

Daniel Ricciardo's difficult and largely unsuccessful spell at McLaren will end after this season, with a question mark hanging over his future in Formula One.

But while Australia's sole driver on the F1 grid is leaving McLaren a year early, the road has been opened for his 21-year-old compatriot Oscar Piastri to take Ricciardo's place behind the wheel at the British team.

McLaren said on Wednesday that they had "mutually agreed" the split with the 33-year-old Ricciardo one year before his contract was due to expire, but conceded they had been behind the move.

McLaren say they'll confirm their driver line-up for the 2023 season "in due course" but it has been an open secret in the sport that Piastri, the Formula 2 champion and Alpine reserve, will step in for the eight-time race winner Ricciardo.

McLaren have been unhappy with Ricciardo's performances, especially compared to those of his British teammate Lando Norris, who's under contract until the end of 2025.

Ricciardo has been, on average, a third of a second slower than Norris in qualifying this season, with the Briton seventh in the championship to the Australian's 12th place. Norris has 76 points to Ricciardo's 19.

Ricciardo's finest moment for one of the powerhouse teams came when he won last year's Italian Grand Prix, but that was a rare moment of success during what has been largely two seasons of disappointment for the West Australian.

McLaren team principal Andreas Seidl conceded: "There was a contract and it needed mutual agreement to terminate it early, but after discussion with Daniel we felt it was the right thing for both sides to split ways for next year.

"If you look back at the last 18 months of our journey together, Daniel and McLaren, it's clear we haven't achieved the result we wanted, despite highlights like the great win in Monza last year.

"That's why we had a lot of discussions but in the end we had to acknowledge we did not make it work together despite the commitment that was there from Daniel's side and all the effort the team has put in.

"And that's why we came to the agreement we would terminate the contract at the end of this year.

"It's not the outcome we wanted but we want to put in all the effort to finish the relationship on a high."

Ricciardo said in a McLaren statement that he was proud of his time at the team, but made it clear he was determined to continue in F1.

There have already been reports that Haas boss Gunther Steiner has made offers to Ricciardo to join the US-based team.

Ricciardo said: "Regardless of what this next chapter brings, I have no regrets and am proud of the effort and work I gave McLaren, especially the win in Monza, last season.

"I will be giving my all on and off track as we enjoy the remainder of the season together.

"I've never been more motivated to compete and be a part of a sport that I love so much and look forward to what comes next."

McLaren team bosses admitted they'd been surprised the link-up with Ricciardo, who was snapped up from Renault in 2021, had not produced better results.

Seidl admitted: "He said it himself - we simply didn't manage as a team to make him feel fully comfortable in the car, especially when it came to going to the absolute limit in qualifying.

"We tried a lot but unfortunately we didn't make it work."

Earlier this month, Alpine announced Melbourne's Piastri, their reserve driver, would be racing for them next season, only for the Australian to say he wouldn't. He had, reportedly, already agreed a deal with McLaren.

© AP 2022