PHOTO: The Reserve Bank of Australia doesn’t see rates rising for at least three years so
Fundamental value for property typically includes the income from rent. Official figures from the Australian Bureau of Statistics released this week recorded falling rents across the country.
In Sydney, rents have now either fallen or not grown for seven consecutive quarters. They are now down 3.1 per cent annually in the September quarter.
In the more volatile cities of Perth and Darwin, rents have either fallen or not grown for 23 consecutive quarters. In Melbourne, Brisbane, Adelaide and Hobart rents all fell.
Population growth, unemployment and supply will determine future rent
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