[infogram id=”_/U9PXtzBodhJCcMDBInDE” prefix=”1bq” format=”interactive” title=”Figure 3.3″]

The differential economic impacts of the COVID-19 pandemic across Australia are apparent in 2020-21 rent trends for the five main capital cities.

Unlike the other cities, Sydney and Melbourne saw significant reductions in asking rents during 2020 in relation to both houses and apartments.

[infogram id=”_/m8VtybpgVgyLxcIsoMRQ” prefix=”wA6″ format=”interactive” title=”Figure 3.4″]

Only by mid-2021 had Sydney house rents recovered to their pre-crisis level. House rents in Melbourne remained almost 5% below their March 2020 values at this time, while apartment rents in both cities were still well over 5% lower than their pre-COVID levels.