The reasons wht rental prices are going down in Australia?

Rents across the combined capital cities fell by 0.3 per cent in July, with all cities falling except Melbourne and Hobart, where rental rates are at record high levels.

sbs Source: SBS

Sydney is still the most expensive city to live in, with a median average weekly rent of $595, compared to a combined capital city median rent of $483, which came in at its lowest level since December 2015.

 

Combined capital city rental rates have fallen by 0.6 per cent over the past year, with CoreLogic observing that rents are continuing to decline at their fastest pace on record, based on data dating back to 1996