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According to a new report, Winter Property Market 2021, from real estate network The Agency, in the first six months of the year, Australia’s rental market has been influenced by similar trends to the sales market – i.e. lower levels of immigration and shifting buyers’ preferences due to changing working arrangements and lifestyle priorities. With these factors impacting both supply and demand, The Agency’s national head of property management Maria Carlino has pointed to two apparent outcomes: Regions have been outperforming inner-city areas Demand for houses has been exceeding demand for apartments.Sydney and Melbourne have both been dealing with a new wave of localised lockdowns due to COVID-19’s Delta variant outbreak, but the two capital cities aren’t telling the same stories in the rental market, Ms Carlino pointed out. Moving on to the second half of 2021, Melbourne’s rental market may gain momentum on the back of an increasing number of enquiries for large family homes, Ms Carlino said. In contrast, Greater Sydney’s vacancy rates have declined 1 per cent between April and May 2021, while regional areas like Illawarra and Central Coast showed even further tightening with fewer rental vacancies than its city counterparts. Continue reading at: x Lockdown market requires ‘realistic’ investors While the rental market has displayed resilience over the first half of 2021, investors are well-advised to manage their expectations moving forward as lockdowns continue to drive uncertainty.
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