๐๐ผ๐บ๐ฝ๐ฒ๐๐ถ๐๐ถ๐ผ๐ป ๐ผ๐ป ๐ฅ๐ฒ๐ป๐๐ฎ๐น ๐ถ๐ "๐๐ถ๐ฒ๐ฟ๐ฐ๐ฒ" ๐ฟ๐ถ๐ด๐ต๐ ๐ป๐ผ๐
Over the past 12 months, national median advertised rents have jumped from $450 per week to a record-high $500, according to PropTrack.
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PropTrack economist Angus Moore said the reason for this sharp rise in rents is not because property investors are passing through higher mortgage costs to their tenants.
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Rather, it's because the supply of rental accommodation is too low.
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"The rental vacancy rate โ which measures the number of currently available rentals as a share of the total number of rental homes in Australia โ is sitting at just 1.5% nationally. Thatโs around half what it was pre-pandemic. That means rentals are hard to find, and competition for them is fierce when they come up," he said.
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"With rental markets this tight, rents would be rising no matter what happened to interest rates."
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