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Property rents fall in some capitals, rise in others

Property rents fall in some capitals, rise in others

Rents have fallen in Sydney and Darwin over the past year, while increasing in all the other capitals.

Sydney’s median weekly rent for houses fell 3.4 per cent in the year to 12 January, according to SQM Research. The median rent for units also fell 2.3 per cent (see tables below).

Darwin experienced even bigger declines, with rents slumping 7.7 per cent for houses and 6.7 per cent for units.

Hobart posted the biggest increase of any kind, with house rents jumping 9.7 per cent – although unit rents actually fell, by 0.6 per cent.

Melbourne, Brisbane, Perth, Adelaide and Canberra experienced rental increases for both houses and units over the year.

Median weekly rents – houses

CityRentAnnual change
Sydney$706-3.4%
Melbourne$5423.7%
Brisbane$4582.0%
Perth$4393.9%
Adelaide$3964.5%
Hobart$4219.7%
Canberra$6354.8%
Darwin$507-7.7%

Median weekly rents – units

CityRentAnnual change
Sydney$509-2.3%
Melbourne$4093.1%
Brisbane$3762.2%
Perth$3271.3%
Adelaide$3022.8%
Hobart$341-0.6%
Canberra$4685.9%
Darwin$392-6.7%

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This article was reviewed by Head of Content Leigh Stark before it was published as part of RateCity's Fact Check process.

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