Vacant rentals balloon across Sydney and Melbourne

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Domain has run a series of reports on the swelling rental vacancies across Sydney and Melbourne.

First Sydney:

The amount of time Sydney homes are sitting advertised for rent has stretched out to 50 days, despite the fact nearly a third of rentals across the city have slashed their asking price.

The latest figures from Domain showed the proportion of rental listings with a price discount was 30.1 per cent in November 2020, up 6.7 percentage points compared to November last 2019.

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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.