Ray of light for renters

May 17, 2023 5:55 pm in by

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There are indications Tasmania’s tight rental market is easing in the latest Proptrack snapshot.

Although supply was down across Hobart, Launceston, Burnie and Devonport last month, year-on-year Hobart’s total listings surged by 66 per cent, up 15 per cent for the rest of the state.

Proptrack’s Cameron Kusher says rental supply is plummeting in mainland capitals due to immigration and COVID treechangers moving back to the big cities.

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“The supply of new rental properties listed on fell by 18.9 per cent over the month, and that was the largest monthly decline since 2017,” he said. 

“Although rental supply is rising in many regions, only Hobart and Canberra had more stock for rent than at the start of the pandemic.

“Without an  imminent increase in supply, the stock of rental properties will remain low, exacerbating the competitive conditions renters currently face.”