Author
Gerv Tacadena is a journalist writing for Your Mortgage and Your Investment Property, which are part of the Savings Media Group. With a keen interest in the mortgage industry and housing market, he aims to help inform and educate Australians on the latest property news and updates.
Victoria’s residential land market appears to have started cooling down from the fever pitch amid the pandemic, with activity returning to the “normalised pre-COVID level”.
Renters in capital and regional cities are likely to end up paying more this year, as the market becomes increasingly tight and in favour of landlords.
Figures from the Real Estate Institute of New South Wales (REINSW) showed that the vacancy rate fell to 2.5% in Sydney, 1.8% in Newcastle, and 0.4% in Wollongong.