The Domain Rental Report for December 2019 has revealed rental statistics for the year, with Sydney demonstrating a large drop in values, followed by Darwin, while Hobart and Perth had the biggest jump in prices.
With economic activity in Western Australia well below its ten year average and effective unemployment significantly above the ten year benchmark, the property market, particularly units, continue to experience weakness.
The already strong likelihood of the Reserve Bank of Australia (RBA) cutting Australia's cash rate to a record low of 0.50% has increased further due to the economic cost of the bushfires raging across the nation.
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