This graph shows the phenomenon of regional rents ‘outperforming’ the relevant capital city in Australia from 2019-2021. This was especially marked in New South Wales (+17% versus-2%), Tasmania (+26% versus +8%) and Victoria (+15% versus -7%). Also notable is that Western Australia, where geographical isolation and a closed border largely enabled avoidance of economic restrictions during the first two years of the pandemic, the pattern was completely different.