Australia on “verge of rental crisis” as “perfect storm” arrives

Monday 7 March 2022

Domain has released its rental vacancy report for February, which shows that the national vacancy rate has fallen to its lowest level on record (1.1%) following the reopening of the international border.

This has led Domain to warn that “Australia is on the verge of a rental crisis, as rental demand will continue to sharply rebound following the full reopening of international borders to double-vaccinated visa holders and tourists, following two years of closures”. Domain also believes that rental pressures will bit hardest in Sydney and Melbourne, which typically receive the lion’s share of migrants:

According to Domain:

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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.