Despite statistics from the Real Estate Institute NSW (REINSW) showing that the rental market remains extremely fragile, RP Data believes the pressure on renters is starting to ease.
According to RP Data’s latest Property Pulse, released today, the national weekly rental rate has fallen 4.0 per cent or $17 a week.
While rental growth is predicted to pick up again over the coming months, with first home buyer demand winding back and vacancy rates remaining historically low, there is some good news for renters.
RP Data’s research director Tim Lawless said renters are seeing more investors flowing into the market. More investors means more rental stock ,which is desperately needed, he said.