powering smart financial decisions

Sydneysiders paying almost double the national average rent

Sydneysiders paying almost double the national average rent

Data from SQM Research has revealed the average weekly rents for all houses and units for the week ending 28 June 2017.

The national average weekly price of rent, according to SQM Research, is $426 for houses and $348 for units.

Sydney had the highest average prices overall, with the weekly rental cost for a house hitting $730, and $523.80 for units. This difference sees Sydney tenants on average pay just over 40 per cent more in rent for houses and over 30 per cent more in rent for units.

After Sydney, Canberra takes second place for the most expensive city to rent in. The average house price per week clocked in at $569, and $418.30 for units.

The cheapest city to rent a house in has also been revealed, with Hobart offering tenants an average price of $373.10. Adelaide tenants could also expect to pay the cheapest rent for units, at $288 per week.

What about homeowners?

These prices are reflective of the median dwelling price, according to CoreLogic data. Sydney leads the pack for most expensive city to purchase property in at $872,300, followed by Melbourne at $665,000, and Canberra at $600,000.

CityDwelling TypeRent
CanberraAll Houses$569.00
All Units$418.30
SydneyAll Houses$730.00
All Units$523.80
DarwinAll Houses$516.50
All Units$394.60
BrisbaneAll Houses$442.50
All Units$367.00
AdelaideAll Houses$373.40
All Units$288.00
HobartAll Houses$510.60
All Units$318.50
MelbourneAll Houses$510.60
All Units$400.40
PerthAll Houses$424.50
All Units$328.00
NationalAll Houses$426.00
All Units$348.00

Did you find this helpful? Why not share this news?



Related news