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Rental costs in Australia

13 January 2016 by News Desk

property_03The cost of renting a home in Australia is growing at the lowest rate for 20 years.

And in at least two state capital cities, the cost of renting a home has fallen over the past 12 months.

Average weekly rents across Australia’s state capital cities are $486 a week for houses and $464 a week for units. Over the past year, rents in capital cities rents rose by just 0.3%.

In Perth, the cost of renting a home has fallen by 8% and in Darwin by 13.3%, according to CoreLogic RP Data’s Rent Review report.

During 2015 there was a small increase in rents in Sydney, Melbourne, Hobart and Canberra. Sydney rents rose by 1.9% and Melbourne rents rose by 2.2%.

Meanwhile, the cost of renting a home fell in Brisbane, Adelaide, Perth and Darwin.

Darrell Todd of thinkingaustralia says: “These latest figures are good news for anyone seeking to live and work in Australia. As increasing numbers of new homes come on to the market, rents in some cities will continue to fall.”

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