Migration slows to a four-year low: what it means for rents
Net overseas migration fell to 292,100 in the year to March 2026, down from 301,000 a year earlier and the lowest since mid-2022, ABS figures reported by The Nightly show.
Arrivals vs new homes
Source: ABS via The Nightly. Year to March; homes built is the approximate yearly completion rate cited.
| Migration (2025) | 301000 |
| Migration (2026) | 292100 |
| Homes built | 170000 |
Why it matters
Most new arrivals rent first, often in shared homes. Cotality names slower migration as one reason rent growth is easing. But with arrivals still well above new homes being finished, the market stays tight.
How migration links to rents
Net overseas migration is the number of people arriving to live here minus those leaving. Most new arrivals rent first, and many start in shared homes while they settle in. So when migration rises quickly, demand for rentals jumps; when it slows, that pressure eases.
The fall to 292,100 is modest, and arrivals still outnumber the new homes being finished each year. That gap is why rents are still rising, just more slowly than before.
What it means for you
- Renters: slightly less competition for rooms, particularly later in the year.
- Listers: steady demand continues, but renters can afford to be choosier, so presentation and fair pricing matter.
- New arrivals: inspect before paying any money, and keep messages inside MateHaus until you've met.
What it means for you
Demand for rooms is likely to stay steady. Listers who reply quickly and price fairly will still fill rooms fastest.
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- The Nightly: Net overseas migration slows to four-year low (17 Sep 2026)
- Cotality Home Value Index, November 2026 (PDF)
Figures are from the sources above at the time of writing. This article is general information, not financial or legal advice.