Australia’s rental market boom appears to be nearing its end, with CoreLogic’s national rental index flatlining over the past two months after a steep 39% rise between August 2020 and June 2024.
CoreLogic notes that this slowdown reflects the weakest rental conditions since the early stages of the pandemic.
While annual rental growth reached 9.7% in late 2021, the pace has since slowed to 7.2%, with unit rents particularly affected.
Cities like Sydney and Canberra have seen rental declines in recent months, though Perth and Adelaide continue to show stronger growth.