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Rents are still falling around Australia as borders remain shut, hammering demand and boosting supply – Business Insider Australia
The property market is continuing down the trough coronavirus has created, with renters getting sweet relief at the expense of landlords.
- Rents declined 0.7% across the country’s capital cities during the June quarter, according to the latest CoreLogic data.
- Hobart, Sydney and Melbourne were responsible for the largest falls, plunging 2.3%, 1.3% and 1% respectively.
- Softening rental markets have largely been driven by a halt in migration leading to falling demand and increasing supply of available rentals.
- Visit Business Insider Australia’s homepage for more stories.
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