Australia n renters looking to move house had slightly more choice in April but with competition for vacant homes still fierce, prices will probably continue to rise. Vacancy rates have been holding at very low levels in most parts of the country, leaving more renters scrambling to secure the few available properties and pushing market rents higher.
Canberra and Perth had the most substantial increases to vacancy rates, with the latter recording its first increase in vacant rentals since July 2022. Tenants looking for a new place have endured a 9.1 per cent rise in advertised rents in the 12 months to March, based on the property data firm’s figures, and Reserve Bank of Australia analysis suggests there’s more pain to come.
Source: News Formal (newsformal.com)
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