Rental market levelling out for first time in seven years
Renters are still facing rising expenses but the worst of the rent blowouts now appear to be over.
House rents are now rising faster than unit rents, with easing net overseas migration and a trend towards larger households, skewing rental growth in favour of the low-density sector. (Image source: Shutterstock.com)
The pace of rental price increases is finally slowly, with the December quarter increase in rents at the lowest level since 2018.
Rents rose 0.4 per cent in that three month period to the end of 2024 and 4.8 per cent over the year after surging 8.1 per cent in 2023, according to CoreLogic’s latest Quarterly Rental Review released on Wednesday.
While the easing of rental pressure will be welcome news for the one third of Australians living in a …
