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Two cities set rent records

Two cities set rent records

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Rental demand is outstripping supply in most states, with rents at peak levels in most capital cities.

According to a Domain Group report for the June quarter, weekly rents in Sydney are currently at record levels, with the median asking rent for houses up 3.9 per cent in the past year to $530 and units up 1.0 per cent to $500.

Melbourne rents also hit record highs, with houses rising 2.6 per cent to $390, while units recorded no change to remain at $370.

Hobart saw strong growth, with house rents rising 6.5 per cent to $330 and unit rents rising 1.9 per cent to $270.

Adelaide showed far less movement, with houses up 1.4 per cent to $350 and units up 1.8 per cent to $290.

Brisbane house rents remained steady at $400, while units increased 1.4 per to $370.

In Canberra, houses remained flat at $450 while houses increased 1.3 per cent to $390.

Rental prices in Perth continue to fall, with houses down 6.5 per cent to $430 and units down 6.3 per cent to $375.

Houses in Darwin fell 7.7 per cent to $600 while units fell 9.1 per cent to $500.

[Related: Weekly rents go up in five capitals, down in three]

 

Two cities set rent records
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