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Sydney, Perth and Darwin buck trend of rising rents
Property rental rates increased in most of Australia’s eight capital cities over the past year, according to new data from SQM Research.
The two main exceptions were Sydney and Darwin, which experienced falls in median weekly rents for both houses and units (see tables below).
Perth also experienced a fall in unit rents, although house rents increased.
By contrast, house and unit rents climbed in Melbourne, Brisbane, Adelaide, Hobart and Canberra.
Australia’s two smallest capitals produced the biggest annual changes in rents:
- Hobart – rents jumped 10.9 per cent for houses and 9.3 per cent for units
- Darwin – rents slumped 6.6 per cent for houses and 4.6 per cent for units
Median rents for houses
| City | Weekly rent | Annual change |
|---|---|---|
| Sydney | $710 | -3.0% |
| Melbourne | $535 | 4.0% |
| Brisbane | $455 | 2.7% |
| Perth | $433 | 4.0% |
| Adelaide | $392 | 3.2% |
| Hobart | $429 | 10.9% |
| Canberra | $636 | 5.1% |
| Darwin | $498 | -6.6% |
Median rents for units
| City | Weekly rent | Annual change |
|---|---|---|
| Sydney | $508 | -2.3% |
| Melbourne | $405 | 2.5% |
| Brisbane | $373 | 2.0% |
| Perth | $321 | -0.4% |
| Adelaide | $299 | 2.7% |
| Hobart | $355 | 9.3% |
| Canberra | $461 | 6.8% |
| Darwin | $391 | -4.6% |
Disclaimer
This article is over two years old, last updated on December 9, 2018. 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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