Biggest April fall in years
This doesn't look good for renters.
Although rental vacancies are rising across many regions of Australia - and in Hobart and Canberra - overall, April's rental listings was the largest in many years, according to Cameron Kusher of REA/PropTrack.
When comparing to the available rental stock from pre-pandemic days, the 40 per cent declines in Sydney and Melbourne are alarming, and the same is true for Brisbane, Adelaide, and Perth,
Source: PropTrack
CoreLogic's figures showed a similar picture, with rental vacancies falling to record lows.
The Budget projects a population increase of around 2.2 million over the next 5 years, though projections often end up being on the low side.
Investors often aren't keen or able to invest, with very tight lending restrictions in place, and new home sales are running at decade lows.