Rents falling in Sydney but surging in Canberra

Australia’s rental markets are a mixed bag, with prices jumping in some cities and declining in others, according to new data from Domain.

Hobart and Canberra tenants were hit with strong increases in rental rates during the year to September (see tables below).

However, their counterparts in Sydney and Darwin enjoyed drops in their rents.

Melbourne and Adelaide rents grew slightly faster than the inflation rate, while Brisbane and Perth rents grew at a slower pace.

Sydney

• House rents were unchanged over the September quarter
• Sydney was the only capital were unit rents fell (-0.9 per cent)

Melbourne

• Melbourne ranked only fourth for house rents ($430)
• Unit rents grew slightly faster than inflation (2.5 per cent v 2.1 per cent)

Brisbane

• House rents were unchanged over the September quarter
• Unit rents grew slower than inflation (1.4 per cent v 2.1 per cent)

Perth

• Perth had the cheapest house rents in Australia ($350)
• It was the only capital where both unit and house rents were unchanged

Adelaide

• Adelaide had the second-lowest house rents in Australia ($375)
• It tied with Perth for the cheapest unit rents ($300)

Hobart

• Hobart led the nation for house rent growth (10.8 per cent)
• It also experienced the biggest growth in unit rents (9.4 per cent)

Canberra

• Canberra tied with Sydney for the highest house rents in Australia ($550)
• It also had the second-priciest unit market, behind Sydney ($450)

Darwin

• Darwin was the only capital were house rents fell (-3.8 per cent)
• Unit rents were unchanged over the September quarter

Median weekly rent – houses

Median weekly rent – units

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