Rental markets tighten
Cotality updated the newswires with the latest rental report, and the widespread suspicions that the rental markets have tightened again were confirmed.
This aligns with the Aussie National Accounts, which suggested that growth in the working age population has picked up again, at a time when dwelling supply has been sluggish.
Rents rose by +1.3 per cent nationally in the December quarter, to be +5.2 per cent higher over the calendar year.
This represents a reacceleration of rental price growth, both in the capital cities and the combined regions of the country (in 2024, rental price growth was +4.8 per cent).
Source: Cotality
The national rental vacancy rate at just 1.7 per cent is now way below the pre-pandemic average of 3.3 per cent.
Reported CoreLogic:
"Unit rents have recorded a stronger trend relative to houses over the past five years, up 47.2% and 41.2% respectively since December 2020, with the pattern of stronger growth evident across every capital city."
You can download the full report from Cotality here.
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