Australia's rental vacancy rate at lowest level since before COVID-19 pandemic
1 year, 9 months ago

Australia's rental vacancy rate at lowest level since before COVID-19 pandemic

ABC  

The percentage of rental properties available in Australia is at its lowest level since before the start of the COVID-19 pandemic, with data showing the rental market has tightened significantly in capital cities and regional parts of the country. Key points: Australia's rental vacancy rate has decreased by 0.1 percentage points to 1.47 per cent in February, the lowest rate since before the pandemic It is now harder to get a rental property in a capital city than in regional Australia PropTrack senior economist Paul Ryan says the tightening of the rental market is unlikely to ease in the next 12 months Newly released data from the PropTrack Market Insight Report shows the national rental vacancy rate fell by 0.1 percentage points in February, taking it to 1.47 per cent — the lowest rate since late 2018. The rental vacancy rate in capital cities currently sits at 1.43 per cent, having fallen by 0.14 percentage points in February, pointing to a rapid tightening of the rental market. PropTrack's senior economist Paul Ryan said the data proved what many Australians were already acutely aware of — with a vacancy rate below 2 per cent, the rental market was "extremely tight". "We've seen rental markets continue to tighten, and now we've got the national rental vacancy rate below 1.5 per cent," he said.

Market Pandemic Capital Cent Rate Points Percentage Melbourne Ryan Photo Regional Rental Rental Prices Mr Ryan Lowest Level Paul Ryan Vacancy Proptrack Capital Cities  pandemic  australias  cent  market  vacancy  points  covid19  regional  ryan  rental  percentage  capital  lowest  level  rate

History of this topic

Victoria sees record fall in rental stock as investors leave the state
2 months, 1 week ago

Victoria sees record fall in rental stock as investors leave the state

ABC  

Victoria is experiencing the sharpest fall in rental stock since record keeping began in 1999, suggesting an investor sell-off is gaining pace. PIPA Victoria board director Cate Bakos said legislative changes around minimum rental standards and increased land taxes were driving investors from the state. Rents plateauing despite falling stock CoreLogic head of research Tim Lawless labelled falls in rental …

Latest figures show huge change to Australia's property market compared with a year ago
7 months ago

Latest figures show huge change to Australia's property market compared with a year ago

Daily Mail  

Homeowners are becoming more confident about putting their properties on the market, with the latest figures showing 40 per cent more homes available than there were 12 months ago. The latest PropTrack listings report revealed the Aussie property market saw the strongest new listings for the month of April since 2021 'If we look in Sydney and Melbourne, the number …

Australia's median rent surges to record heights with regions and outer suburbs feeling the heat
7 months, 2 weeks ago

Australia's median rent surges to record heights with regions and outer suburbs feeling the heat

ABC  

In short: Rents have reached a record high, with the median weekly rent in Australia now at $627. Perth Median rent $669 Year-on-year increase 13.6 per cent The rental market in Perth saw the highest annual rent increase of all capital cities in the last year, as well as the highest uplifting of rent values since the onset of the …

Brisbane overtakes Melbourne as Australia's third most expensive city to buy property for the first time in 15 years
11 months, 2 weeks ago

Brisbane overtakes Melbourne as Australia's third most expensive city to buy property for the first time in 15 years

ABC  

Sydney, Canberra and Melbourne have long been touted as Australia's most expensive cities when it comes to property, but after three years of a COVID-19-bolstered boom, Brisbane has climbed the ranks. "About a third of that market is units, which weighs down the median, as opposed to Brisbane, where only about 25 per cent of housing stock is estimated to …

Depressing statistic that will have young Sydneysiders wanting to move to Melbourne
11 months, 2 weeks ago

Depressing statistic that will have young Sydneysiders wanting to move to Melbourne

Daily Mail  

Rents continued to grow in every capital city in the last months of 2023, but economists say there could be some relief on the horizon. The latest PropTrack Market Insight report found the median national rent has continued on its meteoric rise, increasing 1.8 per cent over the December quarter to $580 per week. This is an 11.5 per cent …

The charts that show how Australia’s rental market got so broken
1 year, 3 months ago

The charts that show how Australia’s rental market got so broken

ABC  

Sometimes, being a renter in Australia just plain sucks. CoreLogic's head of residential research Eliza Owen says in this "landlord's market", requests for homelessness services have been increasing every year since 2012. "Lower income households are more likely to be in the private rental market they're seeing much higher levels of incomes required to service rents," Owen says. "In the …

National rental prices rise by 2.5 per cent as market battles high migration-led demand and housing supply shortages
1 year, 5 months ago

National rental prices rise by 2.5 per cent as market battles high migration-led demand and housing supply shortages

ABC  

National rent prices have risen by 2.5 per cent in the three months to June, as the rental market battles rising demand driven by overseas migration, a chronic shortage of available properties, and tight vacancy rates. Key points: CoreLogic data shows rental prices remain above average levels but rental growth is moderating Stronger than expected demand from migration and a …

The cost-of-living crisis has roots in property but whether you rent or pay a mortgage, there's a dark tunnel ahead
1 year, 9 months ago

The cost-of-living crisis has roots in property but whether you rent or pay a mortgage, there's a dark tunnel ahead

ABC  

If you're a regular consumer of media, you'll likely often be warned of an impending crisis somewhere. Moody's Investors Service stated the obvious this week in a research note: "In February, new home loan borrowers needed an average 30.9 per cent of monthly income to meet monthly mortgage repayments, up from 26.4 per cent in May 2022", when interest rates …

Australian housing values were down 5.3 per cent in 2022. Here's what's happening in your area
1 year, 11 months ago

Australian housing values were down 5.3 per cent in 2022. Here's what's happening in your area

ABC  

Australian housing prices were down 5.3 per cent over 2022, marking the first time housing values have fallen over the calendar year since 2018. Regional South Australia was the stand-out for growth conditions with values up 17.1 per cent through 2022, while regional markets in NSW and Victoria both saw annual falls. Queensland Queensland saw mixed results with its housing …

Property prices drop nationally again, with Sydney diving 6pc annually and regional Australia following suit
2 years, 2 months ago

Property prices drop nationally again, with Sydney diving 6pc annually and regional Australia following suit

ABC  

Property prices are continuing to decrease nationally as higher interest rates bite, with capital city housing markets falling by up to 6 per cent in the past three months. Mr Lawless said property prices didn't drop by quite much in September as they did in August, when they dropped by 1.6 per cent in a month. "I still think a …

How the pandemic triggered Australia's worst rental crisis
2 years, 3 months ago

How the pandemic triggered Australia's worst rental crisis

ABC  

Single mother Tilly Eastwood says the worst part of being priced out of the rental market isn't living in a garage with her three children. Domain's Dr Powell says "roaring" interstate migration, which became the key driver of the housing market when the international border closed, has sent Queensland's asking rents through the roof. Seven factors driving Australia's rent crisis …

Tasmanian property investor drop 'a worry' for the rental market, REIT says
2 years, 4 months ago

Tasmanian property investor drop 'a worry' for the rental market, REIT says

ABC  

There are growing concerns a drop in investors buying into Tasmanian real estate could further shrink the availability of rental properties in the state. Key points: Overall, Tasmanian house sales have continued to trend down for the second consecutive quarter Despite the falls, property sales for the June quarter were still slightly above the 10-year average of 1,739 properties Mary …

CoreLogic tipping biggest property market downturn since the early 1980s
2 years, 4 months ago

CoreLogic tipping biggest property market downturn since the early 1980s

Daily Mail  

Some of Australia's wealthier areas are suffering the sharpest drop in property values, as surging interest rates spark the steepest housing market downturn in four decades. Wealthier suburbs are suffering the sharpest drop in property values with surging interest rates tipped to cause the steepest housing market downturn in four decades Median house prices fall as interest rates surge SYDNEY: …

Australian house prices fall at 'fastest rate' since 2008 financial crisis
2 years, 4 months ago

Australian house prices fall at 'fastest rate' since 2008 financial crisis

ABC  

House prices in Australia are dropping at their fastest pace since the global financial crisis — and market conditions are "likely to worsen" as interest rates continue to rise, according to property analytics firm CoreLogic. Key points: Economists predict Australian house prices could fall between 12 and 20 per cent The median property value dropped 8.5pc during the GFC Rents …

Declining Sydney property prices a forecast for the rest of Australia, experts say
2 years, 6 months ago

Declining Sydney property prices a forecast for the rest of Australia, experts say

ABC  

As interest rates rise, Sydney house prices are dropping and experts say it is a "bellwether" for what is about to happen across the rest of the country. Key points: Interest rates are driving the decline in value of Sydney properties The Reserve Bank of Australia increased the cash rate to 0.85 per cent. "If we see interest rates rise …

Australian house prices keep growing but Sydney posts first fall in 17 months
2 years, 9 months ago

Australian house prices keep growing but Sydney posts first fall in 17 months

ABC  

Australian property prices continued to race upwards last month, but the nation's two biggest cities have started lagging well behind. Key points: Home values rose 0.6 per cent nationally in February according to CoreLogic Brisbane, regional and Adelaide had the biggest increases Sydney prices fell for the first time in 17 months with Melbourne values flat For the first time …

The reason why rents are soaring in Australia with double-digit increases for houses
2 years, 11 months ago

The reason why rents are soaring in Australia with double-digit increases for houses

Daily Mail  

Rents are soaring across Australia with house or unit leasing costs surging by double-digits in every major city except Melbourne during the past year, new data shows. Rents are soaring across Australia with house or unit rents surging by double-digits during the past year in every major city except Melbourne, new data shows Double-digit rent increases in a year BRISBANE …

Australian property prices surged 22pc last year, its biggest jump since the 1980s
2 years, 11 months ago

Australian property prices surged 22pc last year, its biggest jump since the 1980s

ABC  

Record low interest rates have driven Australian housing prices up 22 per cent last year — its sharpest rise in three decades. Key points: Housing prices rose 1 per cent nationally in December, with regional markets up 2.2pc and capital cities 0.6pc Hobart had the biggest capital city price increase over the past year while Perth had the smallest rise …

Canberra is Australia's most expensive for house, apartment renters, SQM Research data October 2021
3 years, 1 month ago

Canberra is Australia's most expensive for house, apartment renters, SQM Research data October 2021

Daily Mail  

Canberra has cemented itself as Australia's most expensive city for both house and apartment renters during the pandemic. Tenants leasing a house in Canberra were paying a median rent of $716 a week in early November, following a 13.9 per cent rise during the past year, new SQM Research data has revealed. The national capital's vacancy rate of 0.8 per …

Australian property market slowly loses momentum as growth rate eases to 1.49pc, CoreLogic finds
3 years, 1 month ago

Australian property market slowly loses momentum as growth rate eases to 1.49pc, CoreLogic finds

ABC  

Australian home values have continued to rise, with prices lifting 1.49 per cent over the past month — a similar result to September and August, CoreLogic data shows. Key points: The monthly growth is easing, but the annual trend has continued to rise trend has continued to rise Perth has recorded its first negative monthly result since June last year …

Domain reveals the cities where rent has surged 15% in just one year and where rents fell
3 years, 8 months ago

Domain reveals the cities where rent has surged 15% in just one year and where rents fell

Daily Mail  

House rents in some parts of Australia have surged by 15 per cent in just one year but in one big city living costs fell. Since the first Covid lockdowns in March last year, Darwin rents have soared by 14.6 per cent, putting its weekly median rent of $550 on equal footing with Sydney. Pictured is a house in Ludmilla …

Melbourne could soon become the cheapest city for renters, while Canberra remains the most expensive
3 years, 8 months ago

Melbourne could soon become the cheapest city for renters, while Canberra remains the most expensive

ABC  

House rents have hit record highs in every capital city in Australia except Melbourne, Perth and Darwin. Key points: Canberra remains the country's most expensive capital city for renters Melbourne is now one of the cheapest cities in Australia to rent a house or unit Perth and Darwin have experienced the largest increases in rental prices of any other capital …

Why it's better to rent in Sydney or Melbourne and buy in another capital city, regional area
3 years, 8 months ago

Why it's better to rent in Sydney or Melbourne and buy in another capital city, regional area

Daily Mail  

Australians who can't afford a house in Sydney or Melbourne are being urged to buy a home with a backyard in another city and rent where they want to live. During the past five years, more affordable major regional centres have experienced 40 per cent house price growth - vastly outpacing increases in Sydney, Melbourne and Canberra. Pictured is Sydney's …

Australian property prices post biggest monthly gain in 17 years
3 years, 9 months ago

Australian property prices post biggest monthly gain in 17 years

Al Jazeera  

Australia’s housing market is booming again, with the biggest monthly price gain in 17 years dispelling fears of a Covid-induced downturn. The rapid gains have been “spurred on by a combination of record-low mortgage rates, improving economic conditions, government incentives and low advertised supply levels.” While housing prices are surging from Singapore to Canada and the U.S., a return to …

Canberra's rental crisis is forcing many to spend weeks searching for a home as prices go beyond 'affordable'
3 years, 11 months ago

Canberra's rental crisis is forcing many to spend weeks searching for a home as prices go beyond 'affordable'

ABC  

Finding a rental property in Canberra at this time of year is almost always a battle, as hordes of people flock to the national capital to start university and take up new jobs. "When we're looking for a tenant, all we should be looking for is their capacity to care for the property and pay the rent," Ms Gill said. …

Warning Perth in 'rental crisis' as residential vacancy rate slumps to lowest level in 13 years
4 years, 2 months ago

Warning Perth in 'rental crisis' as residential vacancy rate slumps to lowest level in 13 years

ABC  

Western Australia's peak real estate body has warned Perth is in a "rental crisis" after the city's residential vacancy rate fell below 1 per cent for only the third time in 40 years. Key points: Perth's residential vacancy rate is at its lowest mark since March 2007 REIWA says Perth could run out of available rentals in early 2021 The …

Real estate agents in 'uncharted territory' as demand soars for regional rental properties
4 years, 2 months ago

Real estate agents in 'uncharted territory' as demand soars for regional rental properties

ABC  

The availability of rental properties across regional New South Wales has dropped to new lows, as city dwellers realise the benefits of working remotely. Key points: Rental vacancies have fallen below 1 per cent in all but three regional areas The regional rental squeeze comes as Sydney recorded a vacancy rate of 4.1 per cent in September Real estate agents …

Melbourne leads house price falls as other markets stabilise from coronavirus dip
4 years, 3 months ago

Melbourne leads house price falls as other markets stabilise from coronavirus dip

ABC  

Melbourne's property market has taken another big hit during August, with price declines more than twice those seen in any other capital city around the country. Key points: Melbourne home prices fell 1.2 per cent last month, but remain 5.9 per cent up over the past year Most cities saw either modest gains, flat prices or a slower rate of …

WA rental shortage leaves hopeful tenants desperate as coronavirus pandemic bites market
4 years, 4 months ago

WA rental shortage leaves hopeful tenants desperate as coronavirus pandemic bites market

ABC  

Jessica Slater has been facing knockback after knockback as she tries to secure her own private rental property. Key points: Rental listings in Perth are down almost 50 per cent on last year Tenancy advocates say COVID-19 has exacerbated rental stress in WA People returning to Perth due to the pandemic have boosted demand The 32-year-old proud Noongar-Yamatji woman has …

Rental vacancies rise in Sydney's CBD as coronavirus hits property market
4 years, 5 months ago

Rental vacancies rise in Sydney's CBD as coronavirus hits property market

ABC  

The number of empty rental homes in Sydney's CBD has jumped by 70 per cent since last year, as the property market continues to be hit by the coronavirus pandemic. Key points: The inner-Sydney suburb of Ultimo had the highest rental vacancy rise The inner-Sydney suburb of Ultimo had the highest rental vacancy rise Vacancies in the CBD are due …

Coronavirus likely to see Sydney house prices fall for 18 months, economist warns
4 years, 5 months ago

Coronavirus likely to see Sydney house prices fall for 18 months, economist warns

ABC  

Sydney's property prices will inevitably fall for 18 months — and "maybe even beyond that" — because of coronavirus, an economist has warned. Key points: Demand for rental properties in Sydney has been declining Demand for rental properties in Sydney has been declining Economist Sarah Hunter says landlords could look to sell, but prices could decline for 18 months Economist …

How bad is COVID for house prices compared to other great crashes of history?
4 years, 5 months ago

How bad is COVID for house prices compared to other great crashes of history?

ABC  

Experts say a decline in Australian house prices since the beginning of the COVID-19 pandemic is not yet anywhere near as steep as other historic market crashes, but this time there's little ammunition left to blast the economy — and the real estate industry — out of a trough. "Through the second half of 2019 the market was very much …

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