2020 rental market finishes the year strong with a decade-high monthly growth rate of 0.6% in December
CoreLogic’s Rental Market Review for the December 2020 quarter released today has reiterated the diverse rental conditions across Australia over the year, with regional markets outperforming capital cities and unit markets recording weak conditions across the largest capital cities.
December 2020 saw Australia’s dwelling market record the largest monthly increase in rental rates since 2010, up 0.6% over the month. The 10 year record can be attributed to growth across the house market which saw a 0.9% rise in rental rates over the month, more than offsetting a -0.1% fall in unit rents.
Across the broad regions, regional markets were the standout performer with both house and unit rents up 1.1% in December, taking house rents 2.9%…