CoreLogic: Rents have gone vertical

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:

CoreLogic national rental growth

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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