Weekly rents unchanged in November 2015: CoreLogic RP Data

Weekly rents unchanged in November 2015: CoreLogic RP Data
Weekly rents unchanged in November 2015: CoreLogic RP Data

Combined capital city rents remained unchanged from October to November however falls were recorded in Perth, Hobart and Darwin, according to CoreLogic RP Data.

Rental rates in increased by a record low of 0.3% over the past 12 months.

New housing supply across capital cities, combined with slowing population growth, low mortgage rates and an increase property investors are all driving the slow down in rental growth.

Record rental rises have been felt in Sydney and Melbourne however at a slower pace of growth compared to 12 months ago.

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Weekly rents unchanged in November 2015: CoreLogic RP Data

CoreLogic RP Data state rental demands for apartments is holding up better than rental demand for houses, with house rents increasing by 0.1% while units have recorded a much greater 1.7% annual rise.

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Weekly rents unchanged in November 2015: CoreLogic RP Data

 

Michael Crawford

Michael Crawford

Michael is the real estate reporter for western Sydney and loves writing about homes and the people who live in them. A former production editor and news journalist, he enjoys writing about real-world property purchases as well as aspirational buys and builds. Following a recent move from Sydney’s northern beaches, Michael now actually enjoys commuting.

Tags: 
Growth Rental market

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