Property rents surge in Canberra



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Canberra has emerged as a surprise leader in new rental statistics from SQM Research.

Canberra was the only one of Australia’s capitals that saw weekly rents increase in both monthly and annual terms for both houses and units (see tables).

It also had the second-highest rents for houses and units, trailing Sydney in both categories.

Here are the key findings from the SQM Research figures, which cover the year up to 20 May:

Sydney

  • House rents fell in both monthly and annual terms
  • Unit rents rose in both monthly and annual terms

Melbourne

  • House rents were the fourth-highest in the country
  • Unit rents were the third-highest in the country

Brisbane

  • House rents fell in both monthly and annual terms
  • Unit rents rose in both monthly and annual terms

Perth

  • House rents fell in both monthly and annual terms
  • Unit rents had the biggest annual decline in the country

Adelaide

  • House rents were the lowest in the country
  • Unit rents were the lowest in the country

Hobart

  • House rents slumped over the month but surged over the year
  • Units rents had the biggest annual gain in the country

Canberra

  • House rents were the second-highest in the country
  • Unit rents rose in both monthly and annual terms

Darwin

  • House rents fell over the month but rose over the year
  • Unit rents rose over the month but fell over the year

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Median weekly asking rents – houses

City Rent Quarterly change Annual change
Sydney $722.60 -1.9% -2.4%
Melbourne $530.80 -1.2% 3.4%
Brisbane $446.70 -0.1% -0.2%
Perth $420.60 -0.7% -1.4%
Adelaide $381.10 -0.6% 2.2%
Hobart $394.20 -3.7% 8.2%
Canberra $624.30 0.7% 8.1%
Darwin $536.40 -3.4% 1.7%

Median weekly asking rents – units

City Rent Quarterly change Annual change
Sydney $524.60 0.1% 0.6%
Melbourne $408.80 0.0% 3.2%
Brisbane $368.90 0.5% 0.3%
Perth $323.10 -0.9% -3.6%
Adelaide $300.40 0.6% 3.6%
Hobart $351.30 -0.8% 9.2%
Canberra $444.30 1.3% 5.0%
Darwin $402.20 0.1% -1.5%
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