Business
Residential rents could fall 30 per cent – The Australian Financial Review
Residential markets across many areas are facing significant rental decline, with rents in Sydney’s Barangaroo expected to slide 27 per cent by month’s end.
Suburbtrends.com director Kent Lardner says the data suggest rental markets are yet to see real price adjustments, but with the end of the eviction moratorium and government support, suburbs with high vacancy rates could experience significant falls in rent.
“In high density suburbs with hundreds of properties that are vacant, I expect to see rents to fall by around 30 per cent,” Mr Lardner said.
“The oversupply of units in the suburbs of Melbourne, Docklands and Southbank is showing downward …
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