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House rents across Australia

29 October 2015 by News Desk

property_03The number of properties available for rent in Australia has fallen while the cost of renting has risen.

In September 2015 there were over 70,000 properties available for rent and all but 2.3% were leased to tenants. Every capital city except Darwin and Perth had a vacancy rate below 3%. In Hobart, vacancies fell from 1.4% to just 1%, according to SQM Research. The number of vacant properties in Sydney was 1.7% in September.

Adelaide’s vacancy rate rose from 1.5% to 1.9%, while Melbourne’s vacancy rate fell from 2.5% to 2.2%. Canberra’s vacancy rate rose from 2.1% to 2.2%.
In Brisbane, vacancies rose from 2.2% to 2.6%. Darwin’s vacancy jumped from 1.8% to 3.3% and Perth’s vacancy rate rose from 2.5% to 3.7%.

Sydney remains the most expensive city to rent a home. In the year to October, rent for houses rose 2.8% to $692 and units rose 2.9% to $489.
In Darwin, rent for houses fell 18.8% to $572 while units dropped 15.1% to $451.
Rent for Perth houses fell 7.5% to $479 and units dropped 7.2% to $384.
In Melbourne, rent for houses rose 5% to $477 and units increased 1% to $359.
Canberra’s weekly rent for houses rose 0.4% to $475 and units rose 0.7% to $375.
Rent for Brisbane houses rose 1.1% to $446 and units climbed 0.3% to $369.
In Adelaide, rent for houses rose 1% to $362 and units jumped 0.8% to $280.
Rent for Hobart houses climbed 5.1% to $332 and units rose 17.6% to $292.
The national average rent for houses climbed 0.2% to $411, while units dropped 0.9% to $334.

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