Domain Rent Report
Domain released its rental market report for the March 2023 quarter.
Rents continued to accelerate, led by Sydney units, where rental prices rose +6.9 per cent over the quarter, and +24 per cent over the year:
Source: Domain
This trend is likely to continue in 2023 with migrants, international students, and tourists all heading to Sydney, and some interstate movers now being called back into the offices in the capital cities.
One interesting snippet was that although vacancy rates remain extraordinarily tight at just 0.8 per cent in the capital cities, the vacancy rate in regional Australia increased by just a notch to 0.9 per cent, which was the highest since December 2020.
The full rental report can be found here.
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Global freight costs are now down -87 per cent from their highs, and lower than they were in early 2020:
