CoreLogic’s Q1 Rental Review reveals diversity of rental conditions
CoreLogic’s Rental Review for the March 2021 quarter revealed a surge in national rental rates of 3.2% however the drivers of this growth are diverse, with the regions, Darwin and Perth collectively driving much of the increase.
Across the combined regional markets, rents rose 4.1% in the first quarter of the year while rents in the combined capitals increased 2.9%. Regional units recorded the highest quarterly rental growth of 4.8% compared to the 2.0% rise in capital city units. Capital city house rents were up 3.3% while regional houses rose by a higher 4.0% in the three months to March.
Houses and units in Darwin showed the strongest growth in rental rates over the quarter, up 8.2% and 7.0% respectively.