Hobart rent prices drop amid coronavirus border closures, job losses

 Australia's island state has recorded the largest decrease in rental rates through July as tenants and landlords battle with the ongoing impacts of the coronavirus pandemic, according to property research group for CoreLogic.


Key points:

Hobart has recorded the sharpest drop in rents in the country, with units down nearly 4.5 per cent and houses 2 per cent

Since March, rent for houses in capital cities only dropped by 0.3 per cent, with unit rents down by 2.6 per cent.

The transition of short-stay accommodation into long-term, border closures and job losses contributed to the drop, CoreLogic says

As restrictions began tightening around the country, it had flow on effects with Hobart, Melbourne and Sydney recording the weakest markets for rent.


Since March, rent for houses in capital cities dropped by 0.3 per cent, with unit rents down by 2.6 per cent.


Read more: https://www.abc.net.au/news/2020-08-03/hobart-records-largest-rent-drop-in-country-amidst-coronavirus/12518988 

A close-up shot of a person's hands holding a set of silver house keys.

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