New CoreLogic data has found that despite national rental yields being overall flat, rental rates are slowly on the rise.
The December quarter, in all capital cities except Canberra, showed stronger annual rental returns as regional markets simultaneously earned a rental increase, according to the most recent CoreLogic Rental Report. Nationally – despite being the weakest fourth quarter for rental growth since 2014 – rents rose by 0.3% over the quarter, which is greater than the 0.1% over the previous quarter. Adelaide (+0.9%), Canberra (+1.6%), Hobart (+2.1%) and Melbourne (+0.3%) all recorded higher rental rates, while Brisbane (-0.1%), Darwin (-0.5%), Sydney (-0.3%), and Perth (-0.7%) were lower.
This quarterly data points to softer growth, despite the overall acceleration of rental growth over the past twelve months.