With the winter season still lingering, August was a frigid month for asking rate performance across most metro markets, except Melbourne. Month-on-month growth was broadly negative, further exacerbating the negative growth experienced in July.
Once again, Melbourne outperformed its peers, seeing generally positive asking rate growth across the market. Previous alternate growth performer, Perth, softened over August but remains a competitive contender on a gross asking rate basis. Sydney continued to experience rental rate declines across the smaller unit range.
Our full August 2024 report can be downloaded from the link below:
Utilising our proprietary research platform, StorExplore, we endeavour to provide transparent and referenceable data to the industry. Please reach out to discuss how we leverage in-house technology to provide our clients with data-driven agency solutions.
Want to receive monthly updates for Market Rate Flash? Subscribe at the form below!