- Home
- Home Loans
- News
- Landlords laughing in Melbourne, crying in Perth
Landlords laughing in Melbourne, crying in Perth
Weekly rents have increased in six of Australia’s eight capital cities over the past year – in some cases, by double-digit amounts.
SQM Research has reported increases in every capital except for Perth and Darwin during the 12 months to 8 August 2017.
The average weekly rental rate for houses jumped by more than 10 per cent in Melbourne, Canberra, Hobart and Sydney (see table below).
Average weekly rent – houses
Region | Weekly rent | Monthly change | Annual change |
---|---|---|---|
Sydney | $1,327.00 | -0.7% | 12.2% |
Melbourne | $928.40 | -0.4% | 21.3% |
Brisbane | $608.40 | 0.4% | 3.1% |
Perth | $661.80 | -0.1% | -3.9% |
Adelaide | $507.00 | -0.2% | 3.7% |
Hobart | $459.50 | -1.3% | 13.6% |
Canberra | $736.40 | 2.2% | 15.5% |
Darwin | $607.30 | 0.1% | -3.1% |
All capitals | $934.40 | 0.2% | 11.8% |
Australia | $551.90 | 0.1% | 10.1% |
Unit rents growing more slowly
While house rents across Australia grew by 10.1 per cent, unit rents climbed by only 4.8 per cent.
Melbourne and Hobart were the only capitals to post double-digit increases (see table below).
In contrast, the troubled markets of Perth and Darwin posted sharp falls in rental rates.
Average weekly rent – units
Region | Weekly rent | Monthly change | Annual change |
---|---|---|---|
Sydney | $700.00 | 0.4% | 5.3% |
Melbourne | $505.20 | 0.5% | 10.8% |
Brisbane | $383.20 | 0.3% | 2.2% |
Perth | $398.30 | -1.4% | -8.0% |
Adelaide | $298.50 | 0.0% | 2.7% |
Hobart | $314.80 | 3.3% | 11.4% |
Canberra | $383.20 | -0.2% | 4.1% |
Darwin | $418.60 | -0.3% | -9.1% |
All capitals | $559.10 | 0.5% | 5.5% |
Australia | $362.90 | 0.4% | 4.8% |
Disclaimer
This article is over two years old, last updated on August 10, 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.
Compare home loans in Australia
5.99%
5.90%
$3,218
Australian Credit Licence 234945
Fees & charges apply
- 2024 Award Winner
- Special
- Owner Occupied
- Variable
- 20% min deposit
- P&I
5.99%
6.04%
$3,218
Australian Credit Licence 393283
Fees & charges apply
- Owner Occupied
- Variable
- 50% min deposit
- P&I
7.36%
7.41%
$3,650
Australian Credit Licence 230686
Fees & charges apply
- Investor
- Variable
- 10% min deposit
- P&I
7.24%
7.55%
$3,611
Australian Credit Licence 243099
Fees & charges apply
- Owner Occupied
- Variable
- 10% min deposit
- P&I
6.01%
6.14%
$3,225
Australian Credit Licence 237879
Fees & charges apply
- Special
- Owner Occupied
- Variable
- 10% min deposit
- P&I
6.19%
6.54%
$3,280
Australian Credit Licence 234517
Fees & charges apply
- Owner Occupied
- Variable
- 40% min deposit
- P&I
6.99%
7.00%
$3,531
Australian Credit Licence 395219
Fees & charges apply
- Investor
- Variable
- 30% min deposit
- P&I
6.23%
6.38%
$3,292
Australian Credit Licence 244616
Fees & charges apply
- Cashback
- Owner Occupied
- Variable
- 20% min deposit
- P&I
6.59%
6.60%
$3,404
Australian Credit Licence 233714
Fees & charges apply
- Cashback
- Owner Occupied
- Variable
- 5% min deposit
- P&I
6.84%
7.16%
$3,611
Australian Credit Licence 233714
Fees & charges apply
- Owner Occupied
- Variable
- 5% min deposit
- P&I
6.69%
6.70%
$3,436
Australian Credit Licence 234945
Fees & charges apply
- Owner Occupied
- Variable
- 30% min deposit
- P&I
5.84%
5.89%
$3,173
Australian Credit Licence 388053
Fees & charges apply
- Owner Occupied
- Variable
- 40% min deposit
- P&I
Product database updated 27 Apr, 2024
Fact Checked
Get updates on the latest financial news and products
By continuing, you agree to the RateCity Privacy Policy, Terms of Use and Disclaimer.
Promoted home loans
Variable Rate Home Loan LVR < 80%
Real Time Rating™
- 2024 Award Winner
- Special
- Owner Occupied
- Variable
Interest rate p.a.
5.99%
Comparison rate* p.a.
5.90%
Australian Credit Licence 234945
Fees & charges apply
Executive Saver Home Loan
Real Time Rating™
- Owner Occupied
- Variable
- 50% min deposit
- P&I
Interest rate p.a.
5.99%
Comparison rate* p.a.
6.04%
Australian Credit Licence 393283
Fees & charges apply
Base Variable Rate Home Loan
Real Time Rating™
- Investor
- Variable
- 10% min deposit
- P&I
Interest rate p.a.
7.36%
Comparison rate* p.a.
7.41%
Australian Credit Licence 230686
Fees & charges apply
Advantage Plus
Real Time Rating™
- Owner Occupied
- Variable
- 10% min deposit
- P&I
Interest rate p.a.
7.24%
Comparison rate* p.a.
7.55%
Australian Credit Licence 243099
Fees & charges apply
Product data updated on 27 Apr 2024