National rent values rose 1.7% in the March quarter.
Despite the easing in demand, a shortfall in rental listings remains, with total rental listings down -22.1% compared to the levels typically seen this time of year, leading national vacancy rates to tighten to 1.6% in March.
All the capitals and rest of state regions saw both a rise in dwelling rents and an uptick in the pace of growth over the quarter.
Advertised rental supply remains relatively tight. Over the four weeks to April 6th, around 99,000 properties were observed for rent nationally, -22.1% below the roughly 127,000 listings typically seen this time of year.advertised rental supply remains relatively tight. Over the four weeks to April 6th, around 99,000 properties were observed for rent nationally, -22.1% below the roughly 127,000 listings typically seen this time of year.
National vacancy rates tighten, from 2.0% in December to 1.6% in March, just 10 basis points above the 1.5% record low recorded in March 2024.
