Figures released this week by SQM Research show vacancy rates in Canberra climbed to 2.5 per cent in April, compared to 2.3 per cent nationally, according to the ABC.
There are more than 500 additional rental properties vacant compared to the same time last year in the ACT.
Accompanying the vacancy rates rise is a drop in rental prices, which have fallen by 8.5 per cent in the last 12 months.
As much as I feel for the investors, as a renter I am starting to wonder if I’m paying over the odds – particularly given an increase in rent 12 months ago. Has anyone had any experience in re-negotiating rent down once in a contract – or even between renewals on the same property?