Property rents fall in some capitals, rise in others



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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

City Rent Annual change
Sydney $706 -3.4%
Melbourne $542 3.7%
Brisbane $458 2.0%
Perth $439 3.9%
Adelaide $396 4.5%
Hobart $421 9.7%
Canberra $635 4.8%
Darwin $507 -7.7%

Median weekly rents – units

City Rent Annual change
Sydney $509 -2.3%
Melbourne $409 3.1%
Brisbane $376 2.2%
Perth $327 1.3%
Adelaide $302 2.8%
Hobart $341 -0.6%
Canberra $468 5.9%
Darwin $392 -6.7%

 

 

 

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