Emmil Philip - Real Estate Agent

04/03/2025

16/10/2024

08/10/2024

The national rental index recorded just a 0.1% increase over the September quarter—marking the slowest rise in rental prices in four years. 📉 With cities like Sydney (-0.5%), Brisbane (-0.2%), and Canberra (-0.8%) seeing declines in rents, the rental market is clearly losing steam across much of the country.

Melbourne and Perth both recorded modest rent rises of 0.3%, a sharp contrast to the 2.2% and 2.3% increases we saw a year ago.
Net overseas migration has also slowed by 19%, helping ease pressure on the rental market.
🏘️ Affordability pressures and easing migration numbers are pushing more Australians to consider group or multi-generational living arrangements to cope with high rental costs. As a result, rental demand is beginning to ease, and we’re seeing some balance return to the market.

📊Despite the slowing rental growth, investor activity is picking up, now making up around 38% of new lending, which could help support rental supply moving forward. However, with national gross rental yields dropping to 3.68%, below average returns are creating challenges for new investors in the market.

Source: Property Update