Quarterly rental data: nascent transition?

December quarter rental bond data from the RTA was pretty quiet in NQ but underlying trend changes continue to consolidate.

Rental December1

The largest overlap between tropical regional capitals with quite different housing stocks is three bedroom houses. Nothing went anywhere much. Cairns couldn’t push higher despite the continual media spin on tight vacancy rates as a goog thing. Townsville and Mackay continue to show evidence of a base and potential recovery.

Rental December2

Too early to call a trend change but difficult to see how this can continue to expand.

Lots of good stuff to explore in the RTA bond data which I really need to get around to. Particularly the number of outstanding bonds and new bonds for the quarter. However it’s a little known fact* that before employment all public servants are required to complete a course in how to make excel spreadsheets less useful so this could take some time.

*May be an alternative fact.

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