Domain’s September quarter rent report recorded asking rents at record levels nationally, with Brisbane house rents up 22.2 per cent over the year and the national vacancy rate at 0.9 per cent. Commentators said the shortage of rental properties, rather than rate rises, was the primary cause, although higher holding costs were adding pressure. Analysts noted rent increases came nowhere near covering the extra mortgage repayments investors faced.
Reported by
Holly Slater, Domain, 14 October 2022
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