Capital city rental residential stock up 6.8% in year to July: RP Data

The total number of properties currently listed for rent across Australia’s capital cities increased 6.8% over the year ending July 8, according to RP Data’s Property Pulse. Including the rest of Australia, the increase was just 2.7%.

Across Australia, there are 44,347 properties newly listed for rent in the month ending July 8, up from 36,001 last year. The total number of rental listings is 90,235, up from 87,855.

At 12,807, Victoria has the most properties newly listed for rent of all capitals. The figure is up from 9,037 last year. The total number of properties listed for rent in Victoria is 29,173, up from 23,672 last year.

Victoria was closely followed by New South Wales, which has 12,129 newly listed properties, up from 9,547 last year. That brings the total number of properties on the rental market in NSW to 23,254, up from 21,654 last year.

The number of rental properties in WA has dropped from 8,291 to 6,961 in the past year. There were 3,868 newly listed properties, slightly up from 3,634 last year.

The Northern Territory was the only state where new listings dropped. New listings are at 428, down from 446 last year. The total number of properties is now at 693, down from 998 last year.

New listings nearly doubled in the ACT, increasing from 236 to 466.