Melbourne and Sydney apartment rents are crashing

Tuesday, 3 November 2020

CoreLogic has released data showing that apartment rents across Melbourne and Sydney have now tanked by 6.6% and 5.8% respectively over the seven months to 31 October:

This follows a sharp rise in Sydney (3.5%) and Melbourne (3.8%) rental vacancy rates:

While detached house rental listings in Sydney are fairly tight (7,848), there was a whopping 22,246 units available for rent as at 25 October:

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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.