Rental crunch accelerates
During the pandemic Melbourne's rental vacancy rate rose to 4½ per cent.
How things have changed, with the rental market now tightening at an alarming pace.
The vacancy rate dropped from 1.7 per cent in December to 1.2 per cent in January, and the way things are going there's going to be another significant drop in February too.
Source: SQM Research
Melbourne's population has grown faster than that of any other city over the past decade, but now rental listings are at record lows and falling fast.
Source: SQM Research
Sydney is also tightening fast as immigration ramps up, while 50,000 additional international students are likely to be on their way from China.
Lending assessment buffers remaining at an fantastically paternalistic 300 basis points, so the rental supply continues to contract apace.
