REA Group Chief Economist Nerida Conisbee says "it is looking far better for renters" now listings have begun to drop, "which is good for the market". "We are seeing a strong shift to premium suburbs around Australia," she said.
"The earliest signs of distress in the property market at the outset of national coronavirus lockdowns was the rapid increase in rental listings on realestate.com.au." "It was partly driven by many AirBnB properties moving to long-term rentals; there were a lot of students moving back home to their families," she said. Image: News Corp Australia
I agree the market was and been over blown for many years, getting back to an affordable level
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