Sydney’s price recovery has continued into 2021 and strengthened. Rental vacancy is tightening from its record high of 5.0% recorded in mid 2020.
Melbourne’s recovery has been boosted by the release of pent up demand, although the loss of population to other states bears monitoring.
Brisbane’s affordability and lifestyle attractiveness is coming to the fore with interstate migration strengthening. The rental market is quickly tightening.
Perth’s market looks to be entering a growth cycle with net interstate migration turning positive for the first time in seven years and rental vacancy remaining sub 1.0%.
Adelaide’s affordability in comparison with east coast markets remains its key advantage, although population growth remains low.
Canberra’s economic stability provides the market with a strong base with pricing at record levels and vacancy tight.