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Rental listings rocket in inner city Sydney and Melbourne

Property investors in inner city Sydney and Melbourne are scrambling for tenants, with travel restrictions and loss of income related to COVID-19 contributing to a massive rise in advertised rentals.

Aerial shot of Sydney's inner city
Rental listings are climbing swiftly in near-city Sydney suburbs. Photo: Shutterstock

Property investors in inner city Sydney and Melbourne are scrambling for tenants, with travel restrictions and loss of income related to COVID-19 contributing to a massive rise in advertised rentals.

Data from the latest ANZ-CoreLogic Housing Affordability report shows the number of advertised rentals in inner Melbourne rose by 57 per cent from March to June, while Sydney’s CBD and inner south both recorded a 53 per cent jump. 

That oversupply …