In The Press – Tight rental supply starting to get tighter in inner-city areas now too

The number of new listings of properties for rent fell 13.1% in February to be 10.6% lower year-on-year, while total rental listings fell 5.2% over the month to be 20.8% lower year-on-year.

Total rental listings were marginally lower last month than they were in December last year but otherwise, the volume of stock available for rent is the lowest its been since April 2004.

Each capital city and rest-of-state market except for Darwin has recorded a reduction in total rental listings over the past year.

Sydney and Melbourne are the two cities in which rental supply has been nowhere near as tight as elsewhere since the onset of the pandemic.

However, total rental listings in February were 22.7% lower and 28.2% lower respectively year-on-year.

Total rental listings in Sydney now sit at volumes not seen since December 2017, while in Melbourne volumes haven’t been consistently as low since the onset of the pandemic.