Rental prices are set to drop again in 2017, as the rental market continues to see strong growth.
Crane prices have fallen by 5 per cent on average in the past year, according to the Renting Services Association.
This is a huge number, given the average rental price in NSW is currently $1,636 a week.
Rents are set for a 15 per cent drop in the next year.
It is not a bad result for the industry, as a 10 per cent decline in the market would see prices fall by around $100 per week.
But for the most part, the industry is finding it harder and harder to find suitable houses.
The industry has been growing at a faster pace than any other sector, and with more and more people looking for affordable rental properties, rents are set at the highest levels in years.
The rent affordability gap between rich and poor has been widening.
That is largely due to the high levels of student debt, which has pushed up housing costs.
It has also put pressure on rental supply, with many landlords being forced to reduce the number of units available.
In the latest report from the Rent Council, a Melbourne-based organisation that works with the rental industry, the average apartment vacancy rate for the Sydney CBD rose to 7.1 per cent in March, up from 6.8 per cent the previous month.
There were 2,926 apartments in the CBD last month, compared to 3,567 in March 2017.
This means that the gap between rent and supply has widened even further.
The figures come as the ACT and Queensland announced a rental freeze and restrictions, which will see the amount of apartments in each state restricted to 50 per cent of their current rental supply.
The ACT’s rental freeze, which applies from 1 January, means that if you rent a property for less than five years, you will be fined $500.
The new restrictions will see rental vacancies fall by 3 per cent, but the ACT Government has not yet announced any rent relief for those who do rent.
The state of Queensland has announced that rents will increase to an average of $1.9 million per year for people who live in the city, while people living in regional areas will pay an average $2,000 per year.
The WA Government has also announced rental restrictions, with rents increasing by 15 per “unit” over five years.
This will see rents increase by 20 per cent over the same period, but there are no figures on what the increase will be for a 10-year lease.
The rise in rents has led to a decline in vacancies, which is also contributing to a drop in demand.
The Rental Council has seen a decline of around 20 per per cent compared to the same time last year.
The rental industry in NSW has seen the biggest decline in vacancy rates in NSW, at 10 per per one per cent.
This has been driven by the impact of the global economic downturn and the closure of some of the country’s major housing stock.
Despite the impact on rental demand, there is still a strong supply of rental properties in NSW.
A spokesperson for the Rental Industry Association of NSW said that the state’s rental vacancy rate has fallen by 7.2 per cent since the state tightened rental restrictions.
They believe that this is due to an improvement in affordability and a drop from recent years in rents.
But the number is still high, with about 40,000 people currently renting property.
Meanwhile, a spokesperson for Rental Australia, which represents the industry in the state, said that rents in the industry are still relatively high, but they are at a level not seen since at least 2009.
They say the rise in vacancy rate is the result of a number of factors including the high level of student loan debt in the country and an increasing number of rental apartments being built in Australia, including overseas.
“A number of the trends in rental demand are likely to be impacted by the global financial crisis and a number will see a decrease in supply,” the spokesperson said.
“The RIA will continue to work closely with the industry to ensure the rental vacancy market is maintained.”
The Rental Market: A guide to the trends, trends, and trends that are changing the rental landscape.
This report contains some of our own research into the rental sector.
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This article was originally published in The Conversation.
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