Weekly rents rising slowest on record: CoreLogic RP Data
Michael CrawfordDecember 7, 2020
Weekly rents are rising at their slowest annual pace on record across the combined capital cities, according to the latest CoreLogic RP Data's Rental Review Snapshot.
The combined capital cities recorded an annual rate of growth at just 0.5% over the year.
The review noted Sydney and Melbourne had the greatest increases in weekly rents however, their rates of growth have slowed relative to a year ago.
"Over the past month, weekly rents have moved lower across every capital city except Sydney where they were unchanged and in Melbourne and Hobart where they rose. Over the past three months rents are lower in all capital cities," it said.
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.