Rental conditions are easing nationwide because of a boom in supply, with the latest data showing rents for houses slipped by 0.5 per cent and unit rents rose by only 1.5 per cent in the past year. Over the year, the biggest increase in rental rates occurred in Melbourne, with an increase of 2 per cent, followed by Sydney (up 1.4 per cent), Canberra (up 1.2 per cent) and Hobart (up 0.3 per cent), according to CoreLogic RP Data.
But the combined rental rate across the capital cities is 0.2 per cent lower over the 12 months to March.
“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,” research analyst Cameron Kusher said. READ More: