In its March Rental Review out today, CoreLogic RP Data analysts confirmed that annual capital city rental change is in decline, now sitting at its lowest figure in 20 years.
“We have been tracking the annual change in capital city rents since 1996 and this is the first time we have seen rental rates falling,” said research analyst Cameron Kusher.
Weekly rents increased by a mere 0.2 per cent at a combined capital city level in March and despite the humble monthly increase, rents across the combined capital cities are actually down 0.2 per cent over the past 12 months.
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Capital city rental change is in decline, now sitting at its lowest figure in 20 years.