Melbourne rentals soften
The rental vacancy rate ticked up to 1.8 per cent in Melbourne in April, well up from 1.1 per cent a year earlier, on softer demand, according to SQM Research.
Sydney also saw a modest increase in its rental vacancy rate to 1.5 per cent over the month, reflecting some of the usual winter softness in demand.
Darwin is suddenly getting tight with a rental vacancy rate of only 0.7 per cent, while Brisbane, Perth, Adelaide, and Hobart all have extremely tight rental vacancy rates of 1 per cent or below.
Net permanent and long-term immigration slowed slightly to 437,000 over the year to April.
This is well below the post-pandemic peak of 498,000, but there has been a few signs of re-acceleration over the past few months.
Asking rents increased 3.9 per cent over the year to April, which is slower than we have seen over recent years.
Tim Gurner warned today of a 15-year rental crisis looming for Australia, due to the ongoing high demand and a general lack of support for rental supply.
Louis Christopher of SQM Research expects the rental market softness to last no more than a few months.
Financial and stock markets took a good deal of solace over the past 24 hours in a 90-day pause in the US-China tariff wars, pushing bond yields to their highest level in a month.
---
1. Download our property buying guide
Download our free property buying guide here.
You can also check out a few of our recent property purchases here.
Get in contact with us today if strategic property investment is your thing.
2. Subscribe to our Top 10 Podcasts for Investors
Listen in to our podcasts
The Australian Property Podcast is rapidly becoming one of Australia's biggest business podcasts, now with well over 50,000 audio downloads per month, and growing fast.
And our popular Low Rates High Returns Show also remains available on Spotify.
3. Subscribe for my free daily blog
Subscribe for my free daily blog with some 3¾ million hits here.
You can also catch up with me daily on Twitter here, where I'm active daily and have over 14,900 followers.
By the way, I'm an 8-times published author on finance, investing, and business, so you can check out some of my books here.
My new book, co-authored with Cate Bakos is available to buy here or on Amazon here - follow our book release on Facebook here and at our Buy Right podcast series here.
4. Work with me privately
For a limited time you can book in a free diagnosis call with me here, so book in a call today.
