[abigail95]

Australian east coast capital cities are the poster children for low vacancy rates and high prices.

The indicators you need to look for are politicians making it illegal to bid for a rental to obscure prices from market participants.

The percentage of capital gain vs rental income breakdown has been decreasing in Australia since interest rates started dropping 10 years ago.

Now it's going in the other direction, rents will outstrip capital gains because of higher interest - you'll have people saying that landlords are buying up houses and refusing to sell because rents are going up and they are just hoarding cash. You can't win against this argument.