Moving to Australia – home rental costs
25 September 2016 by News DeskMoving to Australia and renting an apartment in Perth is now 12% cheaper than a year ago.
Moving to Australia where Every Australian capital city has experienced a fall in vacancy rates and, in some key cities, a fall in the cost of renting a property.
Across the country, the August fall in vacancy rates ranged from 0.1% to 0.3% across all capital cities. The nation’s lowest vacancy rate is in Hobart at 0.3%, having fallen from 0.8% over the month.
Perth’s vacancy rate fell 0.2% to 5% over August, while in Darwin the vacancy rate fell 0.1% to 3% over the month.
Continuing high vacancy rates in Perth and Darwin are having an impact on rents in the two cities.
The past 12 months have seen rents in Perth fall 9.6% for houses and 11.4% for units while in Darwin rents are down 1.5% for houses and 5.5% for units.
Moving to Australia – home rental costs
Canberra is benefiting from its tight vacancy rates, with asking rents for houses and units up 12.1% and 9.6% respectively over the last year.
Sydney and Melbourne have also seen solid increases in their rents thanks to their tight vacancy rates.
Sydney rents are up 4.8% and 4% respectively for houses and units over the past 12 months while in Melbourne they are up 3.4% and 4.5%.
Despite having the nation’s lowest vacancy rates, Hobart’s weekly asking rent for a house is up just 3.4% over the past 12 months and down 3.1% for units, according to SQM Research.
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