According to RP Data’s latest Property Pulse report the total number of rental property listings across Australian capital cities increased 6.8 per cent over the year ending July 8.
The ACT saw the biggest percentage increase in new listings, almost doubling from 236 to 466.
Out of all the capitals Melbourne had the most newly listed rental properties with 12,807, up from 9437 the year before. The total number of properties listed for rent in Victoria was 29,173.
Victoria was followed by New South Wales, which had 12,129 new listings, up from 9,547 the year before. The total number of properties on the rental market in NSW was 23,254.
Conversely, the number of rental properties in Western Australia fell annually, dropping from 8,291 to 6,961.
The Northern Territory was the only state where rental stock had decreased. There were 428 new listings, down from 446 the year before. The total number of rental properties was 693.
For information about the residential property market in the Port Douglas area, please contact your local CENTURY 21 agent on 07 4099 4099, or email email@example.com
Source: CENTURY 21 Port Douglas Real Estate Blogs