Graph 12  Rental Market Indicators  %  Rental and bond yields  6  Rental yield  4  % 6 4  10-year real AGS yield  2  2  0  0  index  index  Rents  March 2008 = 100  140  140  CPI  120  120  Advertised  100  100  80  80 2022  2010  2014  2018  Sources: ABS; CoreLogic; RBA; Yieldbroker  There is, however, some suggestion that rents could be on the rise.
Vacancy rates in Sydney and Melbourne have declined recently, and in other capital cities vacancy rates remain around historical lows. Certainly advertised rents have increased quickly of late, though it will take some time to flow through to the stock of actual rents. It's natural to focus on the opening of the borders and resumption of population growth as potential drivers of higher rents.