04/10/2023
Rental Market Update:
✅ National house rents are now rising faster than unit rents, up 1.7% and 1.3% over the three months to September, respectively.
✅ With national dwelling values rising faster than national rental values, national gross rental yields recorded a mild decline over the quarter, falling to 3.69% in August before rising to 3.71% in Sept.
✅ It's a tough market for renters, and will likely remain challenging for some time. Landlords are experiencing increased rental returns however interest rate rises and rising house prices actually mean that gross rental return is lower.
If you're a tenant applying for a rental property, make sure you have everything in your application checked and ready to go, to improve your chances of being approved!
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