RESIDENTIAL PROPERTY
AUSTRALIA’S capital city asking rents were up again over June, tipping to over $665 per week, as the national vacancy rate rose to 1.3%.
According to SQM Research, the month to 4 July 2023 saw a 0.3% increase in the combined capital city asking rent, reflecting a...
The national combined asking was up 0.4% for the month and 10% for the year to $573.76, with house rents up 0.5% and units up...
Sydney maintained the most expensive rents in the country, despite a monthly decline in combined rents of 0.1% to $783.76 per...
Sydney’s house rents fell by 0.6% for the month to $963.87 per week, a 16.2% increase for the year, while unit rents were up...
In Melbourne, combined rents were up 0.2% for the month and 19.9% for the year to $582.50 per week...
While in Perth, there was a 0.4% monthly increase to $619.28 per week, reflecting an annual increase of 17.1%...
With Canberra rents down for both the month and the year to $656.52 per week, reflecting respective declines of 0.3% and 0.6%...
Likewise, Hobart saw declines in every market over the month, with combined rents down 2.1% for the month and 1.2% for the year to...
“Following the SQM update today there is now more evidence that we are past the worst of our national rental crisis with an easing in...
This comes as the total volume of rental vacancies was up by 2,809 to 39,716 over the month, with Sydney recording the majority of...
“Now, at 1.3%, the rental crisis is not yet over and given our ongoing strong population growth rates it is very unlikely we will get to an...
“However, just an easing in the crisis can at least translate to a steadying of market rents after what has been an extended period of very...
Melbourne, Canberra and Hobart each recorded increases in their vacancy rates over the month, hitting 1.3%, 2.1% and...
The country’s largest CBD rental markets also saw increases, with the Sydney CBD reaching 5.7% and the Melbourne CBD up to...