Rents spike in one Australian capital

Rents spike in one Australian capital

Rents spike in one Australian capital
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Rent.com.au has released its January report which shows a significant spike in rents in one capital city and a rise in the average metropolitan rent across Australia.

The report found that the average metropolitan rent Australia-wide was up 2.38 per cent, making it $430 per week for January.

Of the metro areas, only Canberra and Hobart reported a decrease in median rent. Darwin experienced a significant spike of 8.24 per cent, the sharpest increase in the country, making it the second most expensive capital for house hunters with $460 per week rents.

Sydney was the most expensive city for renters. Its median rent stayed consistent at $550 per week.

Rent in Hobart dropped 7.89 per cent, making it on par with Adelaide at $350 per week.

The only other city to show a fall, Canberra, recorded a 2.17 per cent decrease to $450 per week.

Regionally, only Tasmania and Western Australia experienced a decrease in media rents, 1.89 per cent and 3.03 per cent respectively.

Northern Territory was up 9.76 per cent, South Australia by 2 per cent and Queensland by 1.52 per cent.

The Australian Capital Territory, New South Wales and Victory experienced no price changes. Their median regional rents were consistent with those recorded in December.

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