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Property rents surge in Canberra
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
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% |
Disclaimer
This article is over two years old, last updated on May 26, 2018. 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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