Matt Pirozzi’s Post

Rents are still rising, but at a slower rate The median house rent in Australia's combined capital cities jumped another 11.1% between the June quarters of 2023 and 2024, according to Domain. Significantly, though, the pace of growth slowed noticeably in the most recent quarter, with house rents remaining flat in two cities (Sydney and Perth) and declining in a third (Hobart). Domain’s chief of research and economics, Dr Nicola Powell, said the rental market was likely to end the year in a more balanced state than it began. “Many cities are seeing the weakest outcome for a June quarter in a number of years. It shows that strong rates of rental growth are likely to be behind us,” she said. “Rental supply is rising. We’ve got investors coming back into the market. The outlook for the next 18 to 24 months is better for tenants than the last two years.” #property #realestate #homeloans

Melbourne's rental market key insights!   🏡 Over Q1 2024, house and unit rents soared to new heights, hitting record medians of $570 and $550 weekly, respectively. Notably, Melbourne (and Perth) witnessed the steepest quarterly growth in unit rents among capital cities, surging by a remarkable 5.8% in just three months, according to data from Domain.   📈 While this surge marks a turnaround from the previous quarter's stability, it's important to note that the pace of growth has slowed compared to earlier in the cycle. Annual gains have also lost momentum.   🏙️ Vacancy rates are at a record low of 0.8%, underscoring the fierce competition in the current market.   #MelbourneRealEstate #RentalMarketBoom #RecordBreakingGrowth

Rents still rising, but at a slower rate The median house rent in Australia's combined capital cities jumped another 11.1% between the June quarters of 2023 and 2024, according to Domain. Significantly, though, the pace of growth slowed noticeably in the most recent quarter, with house rents remaining flat in two cities (Sydney and Perth) and declining in a third (Hobart). Domain’s chief of research and economics, Dr Nicola Powell, said the rental market was likely to end the year in a more balanced state than it began. “Many cities are seeing the weakest outcome for a June quarter in a number of years. It shows that strong rates of rental growth are likely to be behind us,” she said. “Rental supply is rising. We’ve got investors coming back into the market. The outlook for the next 18 to 24 months is better for tenants than the last two years.” #property #realestate #homeloans

Rents still rising, but at a slower rate The median house rent in Australia's combined capital cities jumped another 11.1% between the June quarters of 2023 and 2024, according to Domain. Significantly, though, the pace of growth slowed noticeably in the most recent quarter, with house rents remaining flat in two cities (Sydney and Perth) and declining in a third (Hobart). Domain’s chief of research and economics, Dr Nicola Powell, said the rental market was likely to end the year in a more balanced state than it began. “Many cities are seeing the weakest outcome for a June quarter in a number of years. It shows that strong rates of rental growth are likely to be behind us,” she said. “Rental supply is rising. We’ve got investors coming back into the market. The outlook for the next 18 to 24 months is better for tenants than the last two years.” #property #realestate #homeloans

Rents still rising, but at a slower rate. The median house rent in Australia's combined capital cities jumped another 11.1% between the June quarters of 2023 and 2024, according to Domain. Significantly, though, the pace of growth slowed noticeably in the most recent quarter, with house rents remaining flat in two cities (Sydney and Perth) and declining in a third (Hobart). Domain’s chief of research and economics, Dr Nicola Powell, said the rental market was likely to end the year in a more balanced state than it began. “Many cities are seeing the weakest outcome for a June quarter in a number of years. It shows that strong rates of rental growth are likely to be behind us,” she said. “Rental supply is rising. We’ve got investors coming back into the market. The outlook for the next 18 to 24 months is better for tenants than the last two years.” #property #realestate #homeloans

Rents still rising, but at a slower rate The median house rent in Australia's combined capital cities jumped another 11.1% between the June quarters of 2023 and 2024, according to Domain. Significantly, though, the pace of growth slowed noticeably in the most recent quarter, with house rents remaining flat in two cities (Sydney and Perth) and declining in a third (Hobart). Domain’s chief of research and economics, Dr Nicola Powell, said the rental market was likely to end the year in a more balanced state than it began. “Many cities are seeing the weakest outcome for a June quarter in a number of years. It shows that strong rates of rental growth are likely to be behind us,” she said. “Rental supply is rising. We’ve got investors coming back into the market. The outlook for the next 18 to 24 months is better for tenants than the last two years.”

Rents still rising, but at a slower rate The median house rent in Australia's combined capital cities jumped another 11.1% between the June quarters of 2023 and 2024, according to Domain. Significantly, though, the pace of growth slowed noticeably in the most recent quarter, with house rents remaining flat in two cities (Sydney and Perth) and declining in a third (Hobart). Domain’s chief of research and economics, Dr Nicola Powell, said the rental market was likely to end the year in a more balanced state than it began. “Many cities are seeing the weakest outcome for a June quarter in a number of years. It shows that strong rates of rental growth are likely to be behind us,” she said. “Rental supply is rising. We’ve got investors coming back into the market. The outlook for the next 18 to 24 months is better for tenants than the last two years.” #property #realestate #homeloans #therentalspecialists

Rents still rising, but at a slower rate The median house rent in Australia's combined capital cities jumped another 11.1% between the June quarters of 2023 and 2024, according to Domain. Significantly, though, the pace of growth slowed noticeably in the most recent quarter, with house rents remaining flat in two cities (Sydney and Perth) and declining in a third (Hobart). Domain’s chief of research and economics, Dr Nicola Powell, said the rental market was likely to end the year in a more balanced state than it began. “Many cities are seeing the weakest outcome for a June quarter in a number of years. It shows that strong rates of rental growth are likely to be behind us,” she said. “Rental supply is rising. We’ve got investors coming back into the market. The outlook for the next 18 to 24 months is better for tenants than the last two years.” #property #realestate #homeloans

Rents still rising, but at a slower rate The median house rent in Australia's combined capital cities jumped another 11.1% between the June quarters of 2023 and 2024, according to Domain. Significantly, though, the pace of growth slowed noticeably in the most recent quarter, with house rents remaining flat in two cities (Sydney and Perth) and declining in a third (Hobart). Domain’s chief of research and economics, Dr Nicola Powell, said the rental market was likely to end the year in a more balanced state than it began. “Many cities are seeing the weakest outcome for a June quarter in a number of years. It shows that strong rates of rental growth are likely to be behind us,” she said. “Rental supply is rising. We’ve got investors coming back into the market. The outlook for the next 18 to 24 months is better for tenants than the last two years.” #property #realestate #homeloans

Rents still rising, but at a slower rate The median house rent in Australia's combined capital cities jumped another 11.1% between the June quarters of 2023 and 2024, according to Domain. Significantly, though, the pace of growth slowed noticeably in the most recent quarter, with house rents remaining flat in two cities (Sydney and Perth) and declining in a third (Hobart). Domain’s chief of research and economics, Dr Nicola Powell, said the rental market was likely to end the year in a more balanced state than it began. “Many cities are seeing the weakest outcome for a June quarter in a number of years. It shows that strong rates of rental growth are likely to be behind us,” she said. “Rental supply is rising. We’ve got investors coming back into the market. The outlook for the next 18 to 24 months is better for tenants than the last two years.” #property #realestate #homeloans