Apartment rents crash at astonishing rate

Friday, 4 September 2020

Yesterday, The AFR reported the extraordinary rental slaughter taking place across Sydney and Melbourne:

CoreLogic’s Tim Lawless reported similar yesterday, with apartment rents across Sydney and Melbourne crashing by 4.2% and 4.4% respectively in the five months to 31 August:

This comes on the back of collapsing immigration and ballooning rental vacancies across both capitals:

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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.