Australian renters’ situation continues to darken with new data from CoreLogic showing that the capital city rental vacancy rate fell to a fresh record low of only 0.9%:
Source: CoreLogic
This follows a halving in the number of rental listings across the combined capital cities:
Source: CoreLogic
Asking rents continue to rise at a fast pace across the major capital cities, especially across the unit & apartment segment:
Source: CoreLogic
Commenting on the results, CoreLogic noted that Aussie rents have grown for 39 straight months amid tightening conditions:
“Nationally, rental listings were 35.5% below the previous five-year average over the four weeks ending October 29th and 16.1% lower than a year ago”.
“We aren’t seeing any signs of a supply response in rental markets just yet”, CoreLogic Research Director Tim Lawless said.
“Rental listings are consistently trending lower while rents have been rising every month for the past 39 months”.
The Albanese government continues to throw Australian renters to the wolves by running the most extreme immigration program in the nation’s history, in turn creating a dire housing shortage.
Labor has engineered a homelessness and inequality disaster for Australians.
