Rental Growth Slows Down Across Australia, but Market Outlook Remains Uncertain

A new development is advertised for lease in Melbourne, Australia, on Sept. 4, 2018. William West/AFP via Getty Images

Australia’s housing rental growth is slowing down from record highs in 2022, reducing the pressure on struggling renters. However, housing experts warn that the future outlook of the rental market is uncertain.

According to the real estate data provider CoreLogic, the Australian rental market entered the highest upswing period in the company’s 18-year record during the COVID-19 pandemic, with prices surging by 22.2 percent since September 2022.