Vacancy rates have eased slightly, and rental growth has slowed. CoreLogic says the national vacancy rate is still a very tight 1.8%, up from last year’s record-low of 1.4%. At the same time, SQM Research figures put the national vacancy rate at 1.2%, up from 1% a year earlier.

CoreLogic economist Kaytlin Ezzy says while rents are continuing to increase, the pace of growth has also eased, with rents rising by 5.8% compared to 9.6% at the same time two years ago. “Rental growth has eased significantly from the height of the rental crisis,” Ezzy says.

SQM Research managing director Louis Christopher expects vacancies will rise in the coming months as university students finish up and leave rental properties to return home. This, he says, will lead to an easing in advertised rents.

Ezzy says a return of investors means that supply is increasing. Investors now account for 38.3% of all new financing, above the decade average of 33.8%.