Content partner
3 minute read
24 Nov 2020
8:24 am

No let-up in home rental price slide


In real terms, rents are down by an average of 1.2% in the first nine months of this year.

Image: iStock

Rental price growth hit a fresh all-time low for the second consecutive quarter in Q3, according to the PayProp Rental Index. Growth between July and September measured just 1.5% year on year, compared to 1.6% in Q2 – the lowest since the index was launched in 2012. It is likely this is the lowest in over a decade, with the aftermath of the global financial crisis in 2009 likely the previous low point. Rent prices had been tracking sideways for the last two years before the shock of this year’s Covid-19 lockdown, which precipitated a sharp downward trend. For most...