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Sydneysiders paying almost double the national average rent

Sydneysiders paying almost double the national average rent

29 Jun, 2017 - 2 min read

Data from SQM Research has revealed the average weekly rents for all houses and units for the week ending 28 June 2017.

The national average weekly price of rent, according to SQM Research, is $426 for houses and $348 for units.

Sydney had the highest average prices overall, with the weekly rental cost for a house hitting $730, and $523.80 for units. This difference sees Sydney tenants on average pay just over 40 per cent more in rent for houses and over 30 per cent more in rent for units.

After Sydney, Canberra takes second place for the most expensive city to rent in. The average house price per week clocked in at $569, and $418.30 for units.

The cheapest city to rent a house in has also been revealed, with Hobart offering tenants an average price of $373.10. Adelaide tenants could also expect to pay the cheapest rent for units, at $288 per week.

What about homeowners?

These prices are reflective of the median dwelling price, according to CoreLogic data. Sydney leads the pack for most expensive city to purchase property in at $872,300, followed by Melbourne at $665,000, and Canberra at $600,000.

City	Dwelling Type	Rent
Canberra	All Houses	$569.00
	All Units	$418.30
Sydney	All Houses	$730.00
	All Units	$523.80
Darwin	All Houses	$516.50
	All Units	$394.60
Brisbane	All Houses	$442.50
	All Units	$367.00
Adelaide	All Houses	$373.40
	All Units	$288.00
Hobart	All Houses	$510.60
	All Units	$318.50
Melbourne	All Houses	$510.60
	All Units	$400.40
Perth	All Houses	$424.50
	All Units	$328.00
National	All Houses	$426.00
	All Units	$348.00

Disclaimer

This article is over two years old, last updated on June 29, 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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Alex Ritchie

Personal Finance Editor

Alex Ritchie was a Personal Finance Writer and Editor at RateCity, and has been writing about Australian finance for over six years. Her expertise and passion covers loans, credit, superannuation, and closing the gender pay gap, and she aims to help young Aussies to overcome their financial apathy. Alongside RateCity, Alex has been published in numerous publications, including Australia's Money Magazine, Business Insider, Lifehacker Australia, and in health via NPS MedicineWise.