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The claim that property rents would spike in response to the federal budget’s changes to negative gearing and capital gains tax has aged like milk, with new data from Cotality instead showing that rental growth is moderating amid rising vacancy rates.
National rents grew by 5.7% in August, according to Cotality, down from 5.9% over the three months prior.
The national rental vacancy rate also rose to 1.9% in August, the highest reading since January 2025.
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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.
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