More rental properties coming on to the market contributed to the rise, but current figures remain about half of pre-Covid levels
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Australia’s rental crisis is showing modest signs of easing, with vacancy rates in the major cities improving slightly, but from levels that remain about half of pre-Covid levels, according to data group PropTrack.
Rental vacancy rates nationally increased 0.02 percentage points to 1.45% last month, while those in capital cities edged 0.03 percentage points higher to 1.42%. Both were just shy of half the rates in March 2020.
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