Rents rise from 4.3% in Canberra to 13.4% in Brisbane
30/1/2023
Many property investors enjoyed a big rise in their rental income during 2022.
CoreLogic has reported that the median rent for an Australia investment property increased 10.2% during the year. The city-by-city breakdown was:
During 2022, the national vacancy rate fell from 2.1% to 1.2%. That forced tenants to compete harder, pushing up rents.
“Rents are still rising in most capital cities and regional areas, with vacancy rates low,” according to CoreLogic head of research Eliza Owen.
Between September 2020 (when this period of rental increases began) and December 2022, Australian rental rates increased 22.2% – the largest increase in a 27-month period in recorded history.
