A major shift has taken place in the furnished house and apartment rental market, with demand crunched in most CBD and inner suburban markets but soaring in regional tourist towns.
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Australian Property Investor Magazine
Perth property appears to be on the upswing, with sales rebounding, rental vacancies shrinking and investors eyeing potential returns as confidence continues to grow in the WA capital.
Homebuyers and investors remain active in Brisbane, resulting in steadier median home values than in Sydney and Melbourne, and rising rents across large parts of the city.
Home values continue to hang tough in the face of the COVID-19 crisis, but analysts warn of downside risks in the medium-term as government stimulus measures are scaled back and a potential second wave of coronavirus cases re-kindles economic uncertainty.
Building approvals data is yet to show the impacts of the federal government’s HomeBuilder grants, with the latest figures from the Australian Bureau of Statistics revealing approvals hit an eight-year low in June.
Melbourne-based technology startup XY Sense says demand for its workplace data measurement platform is growing rapidly, as big tenants seek answers on exactly how much space they will need as the COVID crisis and flexible working shake up office markets across the country.