November Market Smart

While the national median dwelling value has fallen for a seventh consecutive month, November saw the smallest decline (1.0%) since June. This is largely being driven by the easing rates of decline in both Sydney and Melbourne. That said, many other capital and rest of state markets have also seen their rate of decline start to slow. On the rental side, markets remain extremely tight, with vacancy rates still sitting below 1% in most areas. This is continuing to put upward pressure on rents, though the rate of growth is easing in most locations. It is also combining with declining property values to drive rental yields back up from their recent record lows.