Overview

• Cotality’s September review puts the national rental vacancy rate at a record low of 1.47% with listings about 25% below the five-year average.
• Median weekly rents across the capital cities have topped $700 for the first time after a roughly 44% rise over five years, with Sydney at $807 and Hobart at $584.
• Regional rents rose 5.9% over the year to September versus 3.7% across the capitals, narrowing the affordability gap.
• Cotality warns the quickening in rent growth could lift the ‘rents paid’ component of CPI and keep the RBA’s cash rate higher for longer.
• Perth shows a localized pause as house rents hold at $700 a week and unit rents fall 3.2% to $600 despite a 0.5% vacancy rate, Domain reports.