According to The Australian Financial Review, rental markets have weakened during the past three months as demand struggles to soak up the excess supply created by high investor activity during the recent housing boom, the latest CoreLogic Quarterly Rental Review shows.
Nationally, rental rates dropped 0.3 per cent over the September quarter, reversing the 0.3 per cent gain recorded during the previous quarter.
Canberra recorded the biggest decline of 1.1 per cent, followed by Sydney which had a 1 per cent fall.
Regional markets fared better with a 0.3 per cent rise in rents, but rental growth has slowed compared with a year ago.
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