Rental market in ‘a lot of distress’ due to ‘lower income’ job losses | WATCH

PHOTO: REA Group Chief Economist Nerida Conisbee

REA Group Chief Economist Nerida Conisbee says there is “a lot of distress” emerging on rental and leasing markets, largely due to early job losses seen in the entertainment and hospitality sectors. “It tends to attract younger people and tends to offer roles generally with a lower income, who are often the people that rent,” Ms Conisbee said.

Earlier this week, the federal government announced a ban on real estate auctions and inspections during the coronavirus outbreak. Image: News Corp Australia