Data from CoreLogic shows rental prices have continued to climb as the market battles chronic housing shortages and rising demand for housing. But despite an increase in the rental vacancy rate, rents are expected to keep rising.
abc.net.au/news/rental-prices-housing-demand-supply-migration-vacancy-rates/102562624National rent prices have risen by 2.5 per cent in the three months to June, as the rental market battles rising demand driven by overseas migration, a chronic shortage of available properties, and tight vacancy rates.
Hobart was also the most affordable capital city for house rentals at $565 per week, while Adelaide remained the cheapest city for unit rents at $455 per week. Strong demand for units and apartments saw a 3.6 per cent increase in the June quarter for unit rents, compared to a 2 per cent rise in house rental prices.
Additional figures published by Domain also showed rising demand for rentals in the June quarter, but "stubbornly tight" vacancy rates persisted, while data released on Wednesday by PropTrack showed a rise in national weekly rents. CoreLogic data considers Hobart to be the most affordable capital city to rent a house, but the $75 increase she received six months ago resulted in her spending 70 per cent of her income on a "basic human right".
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