Australian renters facing all-time high asking rents and record low vacancy rates across the country, but there could be relief in sight.
Asking rents for houses and units have jumped to new record highs in Australia's major cities, according to Domain 's latest rent report.
But Domain's researchers say there's hope on the horizon for renters because conditions are expected to turn more in renters' favour this year. In Perth, they increased by 4.8 per cent, up $30 to $650 a week, marking an annual increase of 18.2 per cent. Domain's researchers say the record asking rents for houses and units have been driven by exceptionally low vacancy rates across the country.
"Currently, we are seeing the number of prospective tenants per rental listing ease, suggesting some pressure has been lifted, she said."Also, international student visa applications have turned a corner and started to fall for the first time in more than two years, population growth is likely to have peaked, and the federal government has introduced a migration strategy that will slow population growth.
Asking Rents Housing Rent Unit Rents Renters Migration Vacancy Rates Rental Report
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