Rental Growth Slows Down Across Australia, but Market Outlook Remains Uncertain

[Epoch-Times-Bot]

Rental Growth Slows Down Across Australia, but Market Outlook Remains Uncertain

Australia’s housing rental growth is slowing down from record highs in 2022, reducing the pressure on struggling renters. However, housing experts warn that the future outlook of the rental market is uncertain.
According to the real estate data provider CoreLogic, the Australian rental market entered the highest upswing period in the company’s 18-year record during the COVID-19 pandemic, with prices surging by 22.2 percent since September 2022.
Specifically, the national median weekly rent jumped from $430 (US $297) per week to $519 during the 27 months.
While renters witnessed price growth reach a record high of 10.2 percent in 2022, the pace of increase has fallen in the last several quarters....

Source: Rental Growth Slows Down Across Australia, but Market Outlook Remains Uncertain

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