Rents fall as landlords struggle to fill vacant properties during Australia’s coronavirus crisis

Posted by on May 20, 2020 1:30 pm
Categories: Global Stories

Rents for Sydney houses have fallen to their lowest point since 2013, while some Melbourne tenants are finding landlords willing to negotiate reductions

Tenants are in a better position to demand lower rents than they have been for years as the devastating impact of the coronavirus crisis leaves landlords desperate to fill vacant properties for “whatever they can get”.

Figures released on Wednesday showed that rents for houses in Sydney have fallen to their lowest point since 2013 thanks to the Covid-19 triple whammy of economic standstill, lower migration and a flood of former Airbnb lettings left empty by the wipeout in the travel industry.

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