In this week’s SQM Research rental vacancies report, managing director Louis Christopher noted how rental supply would remain under pressure despite the recent record high dwelling construction levels:
“Overall the current rental market is a moderate landlord’s market. There is nothing in our numbers to suggest the market is about to be hit with oversupply. Dwelling completions should peak in early 2018 and given the pronounced year on year declines in building approvals, we believe rents will likely rise at a faster pace 2018 than what has been recorded in 2017, thus far. We now have mounting concerns for significant rental shortages in 2019 in Sydney and Melbourne”.
