Rental values increased 0.3 per cent in March, but the rate of growth eased later in the month amid the coronavirus crisis.
CoreLogic said on Friday that national rents increased 1.2 per cent over the March quarter to be 1.4 per cent higher on the year.
“Growth rates decelerated over the month, and are likely to experience further downward pressure amid the COVID-19 crisis,” CoreLogic said.
“It is worth noting that rent data for the March quarter would capture little of the impact from COVID-19, where the regulations of social distancing that have been most disruptive to the economy commenced on March 23rd,” CoreLogic head of research Eliza Owen said.
Six of the capital city housing markets experienced a month-on-month increased in rent valued, led by Perth, where rents rose 0.8 per cent.
Sydney rents remained the most expensive, with a median value of $577 a week.
But Canberra rents were only $1 a week less.
Gross rental yields were at 3.76 per cent compared to 3.78 per cent at the end of February, and 4.1 per cent a year ago.