In the past 12 months, rents surged at a record-breaking pace of 14.6 per cent for houses and by 17.6 per cent for units as vacancies plummeted to a record low.
Regional housing markets such as the Gold Coast and Southern Highlands are likely to escape the worst of the property downturn sweeping capital cities, CoreLogic says.
The share of residential ex-rental properties listed for sale has jumped to 31.2 per cent of all new listings nationwide as landlords ditch the market.