National Rents Fall By Half A Percent Over The June Quarter As COVID-19 Pivots The Trajectory Of The Rental Market

Eliza Owen, Head of Research Australia provides analysis into the state of the rental market over the latest quarter amid COVID-19. The decline in rent values over the quarter came at a time when the rental market was already relatively weak. Annualised growth in national rent values was just 1.1% in the five years to June 2020, compared with annualised growth in the selected living cost index of 1.4% in the 5 years to March for employee households. In other words, rents have generally seen…