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CoreLogic has released its May housing chart pack, which reports that the nation’s rental growth has gone vertical, soaring by 4.9% in the year to April 2021:
Rental growth has gone vertical since the onset of COVID.
As shown in the next chart, rental growth is solid to strong almost everywhere outside of Melbourne and Sydney, which have been hit hardest by the collapse in immigration (including international students):
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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.