{"id":24451,"date":"2020-04-04T10:42:59","date_gmt":"2020-04-03T21:42:59","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=24451"},"modified":"2020-04-04T10:43:06","modified_gmt":"2020-04-03T21:43:06","slug":"rents-could-soon-fall-in-these-popular-australian-suburbs-as-nearly-40000-new-listings-flood-the-property-market","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/rents-could-soon-fall-in-these-popular-australian-suburbs-as-nearly-40000-new-listings-flood-the-property-market\/","title":{"rendered":"Rents could soon fall in these popular Australian suburbs, as nearly 40,000 new listings flood the property market"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>PHOTO: Bronte, one of Sydney\u2019s most picturesque suburbs, could be about to become a lot cheaper to live. Photography, Getty Images)<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>The number of new rentals coming onto the market has soared, with almost 20% more available nationally, according to Domain.<\/strong><\/li><li><strong>The figures, supplied to Business Insider Australia, show a huge uptick in certain in-demand areas, such as Sydney\u2019s eastern suburbs, and Melbourne\u2019s south-east.<\/strong><\/li><li><strong>As the coronavirus impacts the economy,<a rel=\"noreferrer noopener\" href=\"https:\/\/www.businessinsider.com.au\/coronavirus-airbnb-rents-impact-rental-market-australia-2020-3\" target=\"_blank\">\u00a0Airbnbs flood the market<\/a>\u00a0with supply, and demand for rentals wane, renters could be in a great negotiating position, according to Domain economist Trent Wiltshire.<\/strong><\/li><\/ul>\n\n\n\n<p class=\"has-drop-cap wp-block-paragraph\">The coronavirus\u2019<a href=\"https:\/\/www.businessinsider.com.au\/coronavirus-airbnb-rents-impact-rental-market-australia-2020-3\" rel=\"noreferrer noopener\" target=\"_blank\">&nbsp;squeeze on short-term rentals, like Airbnbs,<\/a>&nbsp;looks set to deliver tenants a major win.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The number of new listings has surged in recent weeks, according to Domain figures supplied to Business Insider Australia, as options for renters swell.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cListings on the rental market jumped pretty much in all states and one of the reasons behind that we think is that Airbnb and other short-term listings are now coming back onto the long-term rental market,\u201d Domain economist Trent Wiltshire told Business Insider Australia. \u201cOn top of that, we\u2019re seeing people are also moving back home and share houses are breaking up because people are worried about their jobs or struggling to pay their rent.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cPeople have also likely gone back home overseas as well is probably another factor. In combination, we\u2019re certainly seeing more rentals hitting the market.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">READ MORE VIA <a href=\"https:\/\/www.businessinsider.com.au\/australia-sydney-melbourne-falling-rents-suburbs-coronavirus-rental-market-airbnb-2020-4\" target=\"_blank\" rel=\"noreferrer noopener\">BUSINESS INSIDER<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: Bronte, one of Sydney\u2019s most picturesque suburbs, could be<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/rents-could-soon-fall-in-these-popular-australian-suburbs-as-nearly-40000-new-listings-flood-the-property-market\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":24452,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478099140,478108952,478099148,478099017,478104463,478100388],"class_list":["entry","author-data123nz","post-24451","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-australian-suburbs","tag-covid-19","tag-rental-market","tag-rents","tag-sydney-rents","tag-sydney-suburbs"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Rents could soon fall in these popular Australian suburbs, as nearly 40,000 new listings flood the property market - Property News Australia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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