Powered by MOMENTUM MEDIA
subscribe to our newsletter

Rental listings climb higher

Fresh figures from CoreLogic show that the number of rental advertisements over the past year grew by around 9 per cent for both houses and units.

According to the latest CoreLogic Property Pulse for March, the number of rental advertisements over the past 12 months to January 2017 increased by 8.7 per cent for houses and 9.3 per cent for units.

During this period, there were 363,708 houses advertised for rent and 287,233 units at a national level.

Commenting on the results, CoreLogic research analyst Cameron Kusher said: “The rental market is currently seeing historic low rates of rental growth. With the amount of rental accommodation ramping up, it’s easy to see why.”

He added: “Keep in mind this data is only those properties advertised for rent and not every rental property will be advertised for rent each year.”

Advertisement
Advertisement

Mr Kusher explained that the increase in rental advertisements is likely due to an uplift in population growth.

“Rental advertisement counts suggest that the population growth is increasingly being housed via rental housing which aligns with the lift in investor housing finance commitments over recent years,” he elaborated.

With a record-high number of new dwellings still under construction, most of which are units and many of which have been purchased by investors, CoreLogic anticipates that the number of properties advertised for rent will continue to rise.

[Related: Rentals remain ‘fairly stable’ across most cities]

Rental listings climb higher

PROMOTED CONTENT


>According to the latest CoreLogic Property Pulse for March, the number of rental advertisements over the past 12 months to January 2017 increased by 8.7 per cent for houses and 9.3 per cent for units.

During this period, there were 363,708 houses advertised for rent and 287,233 units at a national level.

Commenting on the results, CoreLogic research analyst Cameron Kusher said: “The rental market is currently seeing historic low rates of rental growth. With the amount of rental accommodation ramping up, it’s easy to see why.”

He added: “Keep in mind this data is only those properties advertised for rent and not every rental property will be advertised for rent each year.”

Mr Kusher explained that the increase in rental advertisements is likely due to an uplift in population growth.

“Rental advertisement counts suggest that the population growth is increasingly being housed via rental housing which aligns with the lift in investor housing finance commitments over recent years,” he elaborated.

With a record-high number of new dwellings still under construction, most of which are units and many of which have been purchased by investors, CoreLogic anticipates that the number of properties advertised for rent will continue to rise.

[Related: Rentals remain ‘fairly stable’ across most cities]

Rental listings climb higher
mortgagebusiness

Latest News

The big four bank has confirmed that it is rolling out a new program of work to increase the speed in which it provides unconditional approv...

The ASBFEO has called on government to fund a revenue-contingent loan scheme for SMEs to help them manage cash flow once support measures en...

The fintech’s debit card and pay facilities will come offline today following the neobank’s decision to exit the banking business. ...

FROM THE WEB

Join a group of highly informed brokers.

Broker Pulse, a community-driven knowledge base of lender performance Reveal exactly which lenders are making life easiest for brokers and their clients by taking this monthly survey and joining a group of highly informed brokers who leverage these insights every month.

JOIN NOW
podcast

LATEST PODCAST: A new mortgage lender enters the fray

Do you expect to see strong uptake of the HomeBuilder scheme?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.