Matt Pirozzi’s Post

Rents are dropping in Brisbane for the first time in more than four years despite being a landlord's market according to Domain. Rental growth is weakening in Sydney and stalling in Melbourne. The other capitals are also posting some of their slowest rental growth rates in years. Could this be a start of a sustained downturn in the rental markets? #propertyinvestment Nicola Powell Eliza Owen

🏠 Melbourne's Housing Market Update House rents surged by 1.8% in the June quarter, leading capital cities with a record high of $580 per week. Although this is the largest increase, the pace of growth has slowed significantly compared to previous quarters. This has pushed gross rental yields to their highest in nearly eight years. Unit rents in Melbourne remained stable at a record $550 per week, halving the annual growth rate compared to last year. Melbourne’s vacancy rate hit a six-month high of 1.2% in June 2024. This seasonal rise suggests rental conditions are easing, potentially alleviating rental pressures and slowing price growth. #MelbourneHousing #RealEstate #RentalMarket

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

🏠 Melbourne Rental Market Update 🔹 House rents: Held steady at a record $580 weekly, the weakest September quarter since 2021. Annual growth eased to 5.5% - three times slower than last year’s 17% rise. 🔹 Unit rents: Stabilised at $550 weekly for the second consecutive quarter, marking the first such trend in five years. Annual growth slowed to 5.8%, nearly four times slower than last year’s 22.4% surge. 🔹 Vacancy rates: Increased to 1.3% - the highest since December 2022. This signals a gradual easing of rental conditions, with an improved vacancy rate and slower rent growth providing some relief to renters. #MelbourneProperty #RentalMarket #HousingTrends

Brisbane's rental market key insights! 🏡 Rents soared to new heights in the March quarter, with house rents reaching a median of $620 weekly, nearly doubling the growth pace from the previous quarter and March 2023, according to data from Domain. 📈 Unit rents also surged, hitting $590 weekly, marking the steepest quarterly gain in 15 years. 🏠 Brisbane's dramatic shift from the fourth most affordable to the second most expensive city for renting units in just five years is notable. The city's vacancy rate remains critically low at 0.7%. #HousingMarket #RentalTrends #Brisbane

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.” #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