What’s ahead for apartment vacancy and rent? Well, new data from CBRE research found that median rents are expected to grow by $120/week (+26%) between 2023-2028, across 53 precincts in Australian capital cities. In fact, a number of precincts are likely to see mid/high 30% rental growth. It is also expected that capital city vacancy…
Articles by Leanne Jopson
Australia remains firmly a landlords’ market. According to the latest Domain Vacancy Report for October 2023, Australia’s vacancy rate holds at a record low for the second month in a row, at 0.8%. Table 1. Monthly vacancy rates. Oct-23 Sep-23 Oct-22 Monthly change Annual change National 0.8% 0.8% 0.8% – – Combined capitals 0.8% 0.8%…
Renters and low-income households are better off today than they were 2 years ago in 2021, even amid high inflation and our worsening rental crisis. The new Reserve Bank governor Michelle Bullock made the claim in her first speech since taking over the job, adding that strong employment and income growth help to shield the…
I’ve known about the value of professional property management for a long while now. I guess that’s what comes from being in the property industry for over 2 decades. Over my many years in the industry, I’ve come across plenty of good property managers but also some that you should give a wide berth. The…
We’ve been experiencing a rental crisis with historically low vacancy rates and skyrocketing rents for some time now, so is there an end in sight? Well, according to PropTrack’s new rental vacancy data for August, markets have tightened further, with vacancy rates falling to a new record low. The national rental vacancy rate is now…
Investors who rent their property out on short-stay accommodation platforms such as Airbnb and Stayz in Victoria or Queensland will soon face a tax surcharge. A 7.5% levy, imposed by the Victoria state government supposedly in an effort to help tackle the state’s rental shortage, will apply to revenue made on the platforms from January…
Australia’s rental market saw another quarter of significant milestones. According to Domain’s latest rental report, asking rents continued their remarkable streak of consecutive increases, resulting in fresh record-high rents. The median weekly asking rent for houses in the combined capital cities reached $600, marking a 13% increase from the previous year. Similarly, unit rents also…
Australia has been facing a rental housing shortage for several years now. This has led to increased competition for available homes, driving up rentals and making it increasingly difficult for many Australians to afford a place to live. But, how did we get here? The Covid-19 pandemic caused a divergence in the rental market The…
We all know that rents are skyrocketing around Australia. So a question every landlord seems to be asking themselves at present is: How often, and by how much, can I increase the rent on my investment property or properties? There are actually two parts to the answer – how often you can increase the rent,…
Australia’s rental market plunges further into crisis, with national vacancy rates falling to a new record low of just 1.1% for August. PropTrack’s latest Market Insight report shows that the national vacancy rate recorded its largest drop in over a year (0.14%) over the month, which means that there are now 54% fewer rental properties…