header-background
Find us:
Two cities set rent records

Two cities set rent records

by Staff Reporter 0 comments

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
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

With a combined sales volume of over $14 billion in 2017, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
Andrew Liddell on the best ways to balance your career and home life: ‘It’s really rewarding to give back’

BresicWhitney Estate Agent Andrew Liddell discusses how being in the customer service industry at a young age accelerated his career as an a...

View all podcasts

How much of an influence will bitcoin and other blockchain cryptocurrencies have on the home sale market in 2018?

None, Bit-what? (43.9%)
A little, cryptocurrency is a fad and will fade quickly (35.3%)
A lot, blockchain is the new black (20.9%)

Total votes: 139
The voting for this poll has ended on: February 8, 2018
Do you have an industry update?