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Sydney, Melbourne rents pounded - MacroBusiness


MacroBusiness
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Via Domain:
UNITS – MEDIAN WEEKLY ASKING RENT
Capital
Source: Domain Rent Report, December quarter 2020
Capital City
4.8%
Another very good reason why Sydney and Melbourne are going to lag the global property recovery materially.
That said, it is reasonable to expect a sharp rebound in ex-Chinese tourists and international students through H2 this year which will bring the adjustment to an end.
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. ....

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Best cities for rental performance revealed


Best cities for rental performance revealed
By Bianca Dabu
14 January 2021
|
1 minute read
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COVID-19 has undeniably altered the property market in 2020, with a clear shift in tenant priorities affecting the price of unit rentals throughout the country.
Over the past 12 months, house rentals in most capitals have flourished, while unit rentals have suffered the steepest annual decline on record, stooping to the lowest asking price since early 2014, according to the Domain Rental Report for the December quarter.
“House rents are now at a record high following the steepest annual gain in just over a decade,” Domain’s senior research analyst, Dr Nicola Powell, said. ....

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Mansion Global Daily: Pandemic Boosts Brooklyn and Queens, Stamp Duty Holiday Gave Mumbai Luxury a Lift, and More


Mansion Global
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Mansion Global Daily: Pandemic Boosts Brooklyn and Queens, Stamp Duty Holiday Gave Mumbai Luxury a Lift, and More
Mansion Global’s daily round-up of the latest luxury real estate news from around the world
By Mansion Global Staff
 | 
Originally Published On January 14, 2021
 | 
Mansion Global
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BY THE NUMBERS
Tax Talk
NEWS BITES
Sydney Rents Plummet to Eight-Year Low
Rents in Sydney have fallen to their lowest level in eight years. The latest Domain Rent Report shows the median asking rent in Greater Sydney fell to A$470 (US$365) per week in the fourth quarter of 2020, the lowest level since 2013. It meant that the weekly median rent was down A$40 compared to the final quarter of 2019. Apartments in the Lower North Shore, as well as the City and East region, which encompasses the central business district, were hit the hardest, with the media ....

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