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Anuj

Anuj

Real Estate Consultant,

Increases to the price of rents Australia-wide have not kept pace with general costs of living

10Mo ago 0 Replies 198 Views
In concerning news for Australian investors, annualised growth in national rental values was just 1.1 per cent in the five years to June 2020, while annualised growth in the selected living cost index was up at 1.4 per cent in the five years to March 2020.
The information comes from CoreLogic’s June 2020 Quarterly Rental Review, which noted the impact COVID-19 has had on rental figures nationwide.
Prior to the fall in rent values that did occur over the June quarter, CoreLogic’s head of research Australia, Eliza Owen, said growth in rents had seen some momentum building, “with the national CoreLogic rental index recording consecutive increases between September 2019 and March 2020”.

CoreLogic also indicated that the drop brought rents down 0.5 per cent for the June quarter – the largest quarterly fall in rent values seen since September 2018.
It’s a sign of things to come, with CoreLogic expressing that it expects to see further falls in the coming months.

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