The underlying story is a rent story, not a housing story. When the rate of housing formation is low, as we’re seeing now, weakness in rents comes through, particularly in those areas affected by the shock. It’s less of a house price story. House prices are more driven by financial flows and credit.

Landlords in inner-city Melbourne have taken the biggest property hit during the COVID-19 pandemic, followed by landlords in Sydney’s inner city and eastern suburbs, according to data from CoreLogic. Between March 2020 and last month, there was an 11% drop in rents in the Melbourne CBD and a 10.8% fall in Sydney’s inner city and inner southern suburbs, according to CoreLogic figures published by the National Housing Finance and Investment Corporation. “This shows weakness in housing triggered by the pandemic is showing up in the rental, rather than the purchase, markets,” NHFIC researcher Hugh Hartigan told The Australian Financial Review. “The underlying story is a rent story, not a housing story. When the rate of housing formation is low, as we’re seeing now, weakness in rents comes through, particularly in those areas affected by the shock. It’s less of a house price story. House prices are more driven by financial flows and credit.” Rents in regional markets are also showing the impact of COVID-19. Rents in smaller cities like Darwin and Perth have spiked by as much as 11.1%, and regional centres that have seen a flood of new residents fleeing from locked-down cities have also seen rents spike, AFR reported. “That inner city story is a pretty weak one in terms of rents, but conversely, dome of the major cities – particularly Darwin, Perth – you’re seeing very tight vacancy rates,” Hartigan said. “And in places like Coffs Harbour [on the North Coast in NSW]. There’s a lot of those different and highly variant stories playing out across the country.” However, there are tentative signs of improvements in the Sydney and Melbourne rental markets, according to data published Tuesday by SQM Research. The vacancy rate fell in Sydney’s CBD, and asking rents across greater Sydney rose enough last month to lift the national average for the first time in a year. SQM said there were also encouraging signs in Melbourne’s rental market. Best Regards Linda 姬琳达珍 and Carlos Debello (LREA) LJ Gilland Real Estate Pty Ltd Debello LREA推荐书LJ Gilland房地产 http://ljgrealestate.com.au/testimonials/ Request FREE Rental Appraisal here! "Your Local Property Management & Sales Specialists" PO BOX 19 ZILLMERE 4034 电话：07 3263 6085 LJ Gilland Real Estate Pty Ltd would love your feedback. Post a review to one of our profiles i.e. https://g.page/ljgrealestate/review?gm https://www.ratemyagent.com.au/real-estate-agent/linda-debello/reviews/80-albert-st-woodridge-aauvwd A pleasure sales experience Linda and Carlos have managed my property for over 10 years. They have always handled the property so it has been kept in excellent condition and rent always paid in time. Yes there have been some difficult tenants but I didn’t have to worry about a thing because it just got taken care of. It was the effortless sale and got the exact asking price. Can’t fault them, can only recommend them. Review submitted by (Vendor) on 7 Feb 2021 Your reply - 11 Feb 2021 Hi Bolle, Thank you for your kind words. Please stay in touch with us if you should need anything such as research etc... Always happy to help :) https://www.ratemyagent.com.au/real-estate-agent/linda-debello/reviews/34-dalewood-place-moggill-aavvbf http://ljgrealestate.com.au/competitive-commission/ http://ljgrealestate.com.au/property-management/ http://www.facebook.com/ljgrealestate