House rents boom, apartment rents plunge

The average national house rent is up 4% on late 2019, according to data from MRI Software, which tracks real-time rental performance across 4000 real estate offices.

However, national apartment rents have fallen by 7% over the same period, due to factors such as border closures and a lack of business travel.

The average time taken to find a new tenant for an apartment has also increased from four weeks to over six weeks, while remaining stable at five weeks for houses.

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