Does it feel like rents are going up and up with no end in sight?
In this current market raising rental process can feel like they’re getting out of control.
But there is good news this week from CoreLogic who have announced that rental growth has started to slow.
On a quarterly basis, rental growth peaked in the March quarter at 3.2% and has consistently eased to 1.9% in the September quarter. However, the annual rate of growth is still rising, up 8.9% over the year to September, which is a pretty steep rise and is putting even more pressure on renters.
Apartment rates have stabalised at around 1.9% per quarter, with house rents having slowed to 1.9% (down from 3.5% in March quarter).
Rental yields (the return investors get on their properties) have also dropped and are at record lows across most regions. So, if your landlord tells you they cant afford a repair, that may be why!
That being said, I have witnessed No Grounds Eviction Notices being served in those states where it is still legal, so that landlords can increase the rent to offset the drop in yields.
We at Dwell will continue raising awareness about the unfairness of No Grounds Eviction Notices and welcome feedback and questions through our website, Facebook Group Tenants/Renters FREE Advice and Help Group or TikTok @Dwell_Nicely.
The above advice is of a general nature only and intended as a broad guide. The advice should not be regarded as legal, financial or real estate advice. You should make your own inquiries and obtain independent professional advice tailored to your specific circumstances before making any legal, financial or real estate decisions.
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