Renting a property has by no means been costlier, as new knowledge exhibits costs are hovering amid Australia’s price of residing disaster.
Rents hit report highs throughout the nation’s mixed capitals, in line with Area’s Quarterly Hire Report, with Canberra nonetheless the most costly metropolis for homes and models.
The median weekly hire for a home within the nation’s capital hit $690 per week, whereas Brisbane had the largest year-on-year improve of 16.9 per cent, taking the price to $520.
This was the steepest annual rise within the metropolis’s historical past, which has been attributed to younger households relocating to Larger Brisbane throughout the COVID-19 pandemic.
Melbourne remained essentially the most inexpensive metropolis to hire a home, which was $460 per week after an increase of two.2 per cent within the June quarter.
Unit rents in Canberra had been the most costly at $550 per week, marking a ten per cent year-on-year improve.
Adelaide was essentially the most inexpensive metropolis to hire a unit, at $380 per week, which was an increase of two.7 per cent.
MEDIAN WEEKLY RENTAL PRICES PER CAPITAL CITY:
Sydney – Home: $620, Unit: $525
Melbourne – Home: $460, Unit: $410
Brisbane – Home: $520, Unit: $450
Adelaide – Home: $480, Unit: $380
Canberra – Home: $690, Unit: $550
Perth – Home: $495, Unit: $400
Hobart – Home: $540, Unit: $450
Darwin – Home: $600, Unit: $480
AAP
