
there's a monthly rent drop, but don't go splashing your cash
melbourne and sydney rents saw their biggest monthly drop since covid, yet prices remain up over 10% this year.
for the first time since the pandemic started, asking rents in sydney and melbourne actually ticked down by about 1% this month. it is the first bit of breathing room renters have seen in years, driven by a slight cooling in the winter market.
the reality check is that melbourne's median rent is still sitting at $632 a week while sydney is at a massive $829. with vacancy rates at record lows and a chronic undersupply of new builds, experts reckon this dip is just a blip before prices hit new record highs next year.







