Rental seekers break January records

REA Group economist Anne Flaherty explained why this metric is not only useful for understanding the market but also a great predictor for the market’s future trajectory.

“For every rental listing, the number of views a property receives provides a useful measure of interest, and a gauge to predict demand,” Ms Flaherty noted. 

“A lower supply of properties relative to the number of people looking to rent will naturally coincide with higher views per listing.”

This was the case in the first month of the year. Six out of the eight states and territories set new records in January, with only Victoria and the Northern Territory coming in slightly lower than previous monthly averages.

In the eastern states, it’s regional areas that have become the most hotly contested.

In NSW, rental properties in the Illawarra are receiving the highest level of interest, with the average home generating 165 per cent more views compared to the numbers across the state more broadly.

Victorian rental properties are proving to be the most competitive on the Mornington Peninsula, where listings are receiving 98 per cent more views compared to the state average.

And the Gold Coast took out Queensland’s top spot, with rental properties receiving 98 per cent more views on average.

In other states and territories, the capital cities dominated, with Perth’s north-west, Adelaide’s south, Hobart and Darwin leading the demand in their respective regions.