Sydney’s price recovery is underway, although with vacancy at a 17-year high of 4.3%, apartment rents have dropped.
Melbourne’s recovery is lagging, but the return to a more normal environment generally as social and business restrictions ease should support pricing into 2021.
Brisbane continues to present as a significantly more affordable residential market in comparison with Sydney and Melbourne and is well place to capitalise when border restrictions ease.
Perth’s declining vacancy remains the highlight, dropping to 0.9% in September, the first time it has been sub-1.0% since 2007.
Adelaide is recording strong price performance.
Canberra’s economy has weathered the impacts of COVID-19 better than most, providing a solid base to support the residential market.