Rental pressures switch focus
There were signs of easing pressures in regional markets in July, as employers bring workers back to their offices in the big cities, according to SQM Research.
In Sydney and Melbourne, on the other hand, rental markets are tightening quickly, and even CBD rental vacancy rates are down to well below average.
With the ramp in immigration largely likely to impact Sydney and Melbourne, those rental markets are set to keep tightening, while there are also far few high-rise apartments towers being built now.
There aren't the foreign buyers around for developers to secure the requisite pre-sales, and construction insolvencies are surging in any case.
Capital city asking rents rose another 1.2 per cent in the month, to be 17.2 per cent higher over the year.
Louis Christopher of SQM Research was reported in The Australian stating that although rental markets pressures should ease for regional tenants, the same cannot be said for those in Sydney in Melbourne.
