RP Data: Annual rents fall for first time on record

Thursday 7 April 2016

Core Logic-RP Data has released its rental report for March, which revealed that annual rents have declined for the first time in records dating back to 1996, down by 02% at the capital city level in the year to March 2016:

As shown above, half of the capital cities – Brisbane (-0.7%), Adelaide (-1.0%), Perth (-8.4%) and Darwin (-11.5%) – recorded rental falls, whereas half of the capitals – Sydney (+1.4%), Melbourne (+2.0%), Hobart (+0.3%) and Canberra (+1.2%) – recorded small increases in rents over the year.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.