Australians and overseas visitors are returning to the cities after lockdowns, with a new report showing enquiries for rental listings up 31 percent in capital cities and down 30 percent in regional areas.
However, people looking to rent are in for a challenging market, facing strong demand and low supply across the country.
The latest PropTrack Rental Report for the December 2022 quarter revealed that in capital cities, rental listings are now at the lowest levels seen since February 2003.
PropTrack’s director of economic research, Cameron Kusher, said he expects the clear shift in demand for rentals away from regional areas to capital cities to continue….