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Asking rents for houses and apartments, 2019 – 2021

COVID-19Housing & homelessness

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.

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.

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