A sharp rise in home values in two of Australia’s largest capital cities hasn’t flowed through to rental rates according to the latest CoreLogic RP Data rental review which today revealed that rental increases are now at their slowest pace on record at 0.7%, over the year.
Based on the August analysis:
- Weekly rents fell by a further -0.4% over the month of August
- Rental growth across the combined capital cities dropped to a new record low of 0.7% over the year
- Sydney rents rose just 2.3% over the year
- Rents have fallen over the past year in Adelaide, Perth and Darwin
- Combined capital city rental rates are recorded at $487/week for houses and $462/week for units
CoreLogic RP Data research analyst Cameron Kusher is…