This graph tells you a lot about how the rental market has steadily turned in favour of property investors over the past five years.
In December 2017, the median time it took for a rental property listed on realestate.com.au to find a tenant was 25 days. By December 2022, that had fallen to a record-low 18 days.
As always, conditions vary from city to city:
* Brisbane = 16 days in December 2022
* Perth = 16 days
* Adelaide = 16 days
* Hobart = 17 days
* Darwin = 19 days
* Sydney = 20 days
* Melbourne = 22 days
* Canberra = 22 days
“Properties that are available for rent are leasing in record-time due to the lack of stock and heightened competition for available properties,” according to PropTrack’s director of economic research, Cameron Kusher.
