It looks like coronavirus is going to put the big hurt on both home sale prices and rents.
Here's a good blog that is sharing a lot of stories on the issue:
The number of empty properties in the CBDs of Australia’s three biggest cities has blown out, with new figures recording the largest monthly increase of the national vacancy rate in more than a decade.
Australia’s rental market has been flooded with vacant properties as part of the COVID-19 pandemic, with new data from SQM Research revealing more than 88,000 homes were left empty last month.
“It’s an outright tenants’ market,” said SQM Research managing director Louis Christopher. “Rents have been falling and they’re likely to continue to fall for the foreseeable future. It is happy days for tenants and a bit of disastrous scenario for landlords.”
Rental vacancy rates record highest monthly jump in over a decade: SQM
Australia's rental market has been flooded with vacant properties as part of the COVID-19 pandemic, with new figures revealing more than 88,000 homes were without tenants last month.