It’s the old story of supply and demand. 
The recent building boom across Australian capital cities is helping to keep a lid on rent increases despite strong population growth according to Domain’s rental report.
Regular Property Update commentator Pete Wargent, made the following comments for The Australian Financial Review.
“We kicked off a big construction boom in 2012, which is now in its last legs for Sydney with the latest ABS figures showing that apartment commencements in Sydney are down by more than half over the past year
These things go in a cycle, but it forces landlords to provide a better product to compete for tenants, it frees up a bit of cashflow for the tenant which is good if they can rent for less. In the short term landlords might have to take a bit of a knock on the rent but it’s not necessarily all a bad thing.”
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