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Speaker 1: Finally we've got some respite for renters. Trade mee's latest

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Speaker 1: property data has shown rental prices have decreased for the

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Speaker 1: first time since twenty twenty two. Just happened this month,

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Speaker 1: but only by five dollars. Calvin Davidson has called Logic's

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Speaker 1: chief property economist and with us, Hey, Calvin, what do

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Speaker 1: you reckon? Is this a one offer a trend?

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Speaker 2: Well, whether we get a month or month falls from

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Speaker 2: here on. I think there's a little bit of You

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Speaker 2: don't really tend to see rents fall in any prolonged way,

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Speaker 2: but certainly there's a bigger picture here that rental growth

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Speaker 2: has slowed down. The rental market has shifted in favored tenants.

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Speaker 2: There's a bit less demand out there and a bit

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Speaker 2: more supply. So we have seen rent slow. They may

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Speaker 2: not necessarily fall over the longer term, but I have

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Speaker 2: certainly flattered down.

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Speaker 1: Yeah. The lack of demand is that as a result

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Speaker 1: of immigration slowing down.

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Speaker 2: Yeah, I mean it's not that demand's falling necessarily, but

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Speaker 2: the rate of growth has certainly slowed down. Migration is

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Speaker 2: coming off its peaks. There's still people arriving in net terms,

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Speaker 2: but there's also people leaving, and so I think it's

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Speaker 2: probably more of a story of just a little bit

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Speaker 2: of that heat coming out at the storm migration there,

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Speaker 2: but not as fast as one flaws.

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Speaker 1: What do you reckon landlords should be thinking at this point?

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Speaker 1: I mean, should they be considering dropping their rents to

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Speaker 1: get people in or is it not quite at that level?

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Speaker 2: Well, I mean up to the nvidew in the end,

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Speaker 2: I mean i'd also make a distinction between these figures

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Speaker 2: relate to what's happening on the market right now. Tenants

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Speaker 2: circling round landyard's circle round, they don't really apply to

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Speaker 2: people already in existing tenancies. So if landlords have existing

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Speaker 2: tenants that those rents are going to be at least

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Speaker 2: if it's on a fixed least, those rents aren't going

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Speaker 2: to change at least still in their terms. So it

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Speaker 2: does relate to the market. And so yes, if landlords

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Speaker 2: are out there freach logging for some tenants, you know

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Speaker 2: they'll have to price right to the market. I guess

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Speaker 2: in some locations that might still be stronger. Other locations

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Speaker 2: might be that weaker.

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Speaker 1: Calvin's good to talk to you, Thank you mate, appreciate it.

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Speaker 1: As Calvin Davidson, chief property economist. A call logic for

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Speaker 1: more from Hither Duplessy Allen Drive, Listen live to news

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