Rents still increasing at almost twice rate of inflation
A very marginal improvement in vacancy rates has done little to ease the crushing burden of rent increases for renters around the country, while retracting rental yields discourage investors and worsen the supply of new properties.
Rental properties became ever so slightly more available last month but the rental crisis is a long way from over. (Image source: Shutterstock.com)
The availability of rental properties improved by a tiny fraction in June but rents continue to rise at almost double the pace of inflation.
CoreLogic’s Quarterly Rental Review for Q2 2023 shows the country’s quarterly rental growth trend of 2.5 per cent was in line with the March quarter increase.
Over 12 months rents have risen 9.7 per cent, compared to Australia’s inflation rate of 5.6 per cent.
Vacancy rates eased marginally in Sydney and…
