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Apartment rents fell by 8 per cent in Sydney and 4 per cent in Brisbane

16D ago 0 Replies 14 Views
The average national house rent is up 4% on late 2019, according to data from MRI Software, which tracks real-time rental performance across 4000 real estate offices.

However, national apartment rents have fallen by 7% over the same period, due to factors such as border closures and a lack of business travel.

“Many people have been looking to get more space so they have that work-life balance even while working from home,” Mr Symons said.
“I think another critical point is that expats have returned, moved back into their houses and pushed those tenants out into the market.

Melbourne’s apartment rents have steadily declined in the past 18 months, falling 17 per cent from an average of $493 pre-COVID-19 to $412 in early June.
Apartment rents fell by 8 per cent in Sydney and 4 per cent in Brisbane.




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