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Hobart home rents declining

Hobart's home rental values are slipping.

The deepest June quarter fall of all the capitals in fact, Hobart off 2.3% due to the economic shock produced by the pandemic, in the latest CoreLogic data.

A less severe result nationally, shaving 0.7% off Australia's combined capital city rents, with the report forecasting further declines in coming months.

In the nation's regions, rents actually rose slightly by 0.2% in the quarter.

CoreLogic notes closed international borders created a significant shock to rental demand nationally, as new migrants to Australia tend to be renters.

"Job losses in sectors such as hospitality, tourism and the arts, which ABS payroll data estimates has been around 20%, have also impacted demand, because households in these sectors are more likely to rent than in other industries.”