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Landlord's market in Sydney _ and Hobart
Property investors hunting for rental returns may find that Sydney has the highest asking rents in the country, but Hobart has experienced the strongest improvement in asking rents over the past few years, according to the latest figures from SQM Research.
As of 12 July 2017, Sydney’s asking rents for houses are sitting at $725; down 1.2% from last month, and 2.9% from last quarter, but up 2.6% on last year, and up 8.1% on a 3-yearly basis. The asking rent for Sydney units of $522.2 is down 0.2% from the past month, but up 0.7% on the past quarter, 3.3% on the past year, and up 10% on a 3-yearly basis.
But while high rents in Sydney are often expected, the SQM Research figures show that Hobart may be be offering the best of both worlds for both landlords and tenants, with the lowest asking rents in Australia for houses, as well as strong improvements in asking rents over the long term.
As of 12 July 2017, Hobart’s asking rents for houses are $367.3; up 0.2% from last month, 3.2% from last quarter, 6.8% on last year, and a huge 17.9% on a 3-yearly basis. The asking rent for Hobart units of $314.6is down 0.1%from thepast month, but up 4.6% on the pastquarter, 10.5% on the past year, and up 19.2% on a 3-yearly basis.
For tenants, Australia’s cheapest living spaces appear to be units in Adelaide, with the nation’s lowest asking rents of just $289.5.
The strongest declines in asking rents were recorded in Darwin, with falls of 27.7% for houses and 24.8% for units over the past three years.
Asking rents – houses (SQM Research, 12 July 2017)
| City | Asking rents – all houses | Change on prev. week | Monthly change | Quarterly change | Annual change | 3-year change |
|---|---|---|---|---|---|---|
| Canberra | $588 | -$4 | -4.3% | -2.3% | 4% | 16.3% |
| Sydney | $725 | -$3 | -1.2% | -2.9% | 2.6% | 8.1% |
| Darwin | $511.40 | $0.6 | -3.3% | -7% | -11.1% | -27.7% |
| Brisbane | $443.10 | -$0.10 | -0.2% | -1% | -1% | 0.2% |
| Adelaide | $375.40 | $0.60 | 0.7% | 1.4% | 2% | 5.4% |
| Hobart | $367.30 | -$3.30 | 0.2% | 3.2% | 6.8% | 17.9% |
| Melbourne | $511.40 | -$0.40 | 0.2% | -0.5% | 5.9% | 10.9% |
| Perth | $423.90 | $0.90 | -0.2% | -1.9% | -6.4% | -20.2% |
| National | $427 | $2 | 0.7% | -1.2% | 3.1% | 3.9% |
Asking rents – units (SQM Research, 12 July 2017)
| City | Asking rents – all units | Change on prev. week | Monthly change | Quarterly change | Annual change | 3-year change |
|---|---|---|---|---|---|---|
| Canberra | $412.30 | -$2.30 | -2.8% | -2.7% | 0.9% | 10.5% |
| Sydney | $522.20 | -$1.20 | -0.2% | 0.7% | 3.3% | 10% |
| Darwin | $397.40 | $2.60 | 0.0% | -4.6% | -10.3% | -24.8% |
| Brisbane | $367.40 | $0.60 | -0.4% | -0.4% | -1.3% | 0.3% |
| Adelaide | $289.50 | $0.50 | 0.2% | -0.4% | 1.3% | 4% |
| Hobart | $314.60 | -$0.60 | -0.1% | 4.6% | 10.5% | 19.2% |
| Melbourne | $401.3 | $0.70 | 1% | 2.2% | 5.8% | 12.8% |
| Perth | $327.50 | -$0.50 | -0.8% | -3.1% | -9.1% | -22.2% |
| National | $349 | $1 | 0.0% | 0.9% | 2.3% | 3.3% |
Disclaimer
This article is over two years old, last updated on July 12, 2017. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent home loans articles.
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