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Landlords finding it easy to attract tenants

By February 2, 2023No Comments

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 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.

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