Australia’s rental market remains tight as the residential property market continues trending downwards. Rental vacancies in the CBDs of Sydney and Melbourne fell to 2 percent and 3.4 percent, respectively, in response to the return of international arrivals, according to SQM Research (pdf). Meanwhile, the rental vacancies of other capital cities edged slightly higher but…
House Prices Drop Sharply in Major Australian Cities in July
Australian house prices continued to fall as five out of eight capital cities saw a drop in prices in July, with Sydney and Melbourne leading the downward trend. According to real estate data provider CoreLogic, Australian home values dipped by 1.3 percent in July, the third consecutive monthly drop, following a near 29 percent national…
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