Already a subscriber?Another record increase in rents and falling vacancy rates in the last three months ensure there will be more pain for Australian governments that seem incapable of doing much to alter this dismal trajectory.
For apartments, the national increase over three months was a little less at 3.3 per cent but still added up to a 12.7 per cent climb over the year. Some cities had even higher annual hikes for units – led by Perth at 22.2 per cent, Brisbane with 18 per cent and Melbourne at 14.6 per cent.Combine that with vacancy rates falling over the quarter in every city except Hobart which was flat. It’s now less than 1 per cent nationally.
“Rental inflation continues to accelerate at a time when price pressures across the rest of the economy have been abating,” he said on Wednesday. fell to a five-month low in February, even if investors and first home buyers are borrowing more to get into a rapidly rising property market for established homes.
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