Inner Melbourne and Sydney suffer double-digit rental declines

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The National Housing Finance and Investment Corporation (NHFIC) this week held a webinar discussing the “State of the Nation’s Housing: 2021 and beyond”.

This webinar included an interesting presentation by NHFIC’s Head of Research Hugh Hartigan explaining how the collapse of immigration and international students into Melbourne and Sydney has caused double-digit declines in rents across inner-city areas:

By contrast, across the rest of the nation vacancy rates are tight and rental growth is strong.

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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.