Rents falling across Australia
14 November 2015 by News Desk
The cost of renting a house or apartment in Australia has fallen in half of all capital cities across the country.
The continuing construction boom in Australia, added to lower population growth and low mortgage rates are the main reason rents are falling across the country.
Darrell Todd of thinkingaustralia says: “These latest figures are great news for people seeking to live and work in Australia. The huge increase in the number of new homes means it’s becoming more and more of a ‘buyers market’ and landlords are finding it hard to find people willing to pay higher rents.”
Rents in the major cities of Sydney, Melbourne and Brisbane continue to rise but these cities are seeing a slowdown in rent inflation compared to 2014, according to the latest report from CoreLogic RP Data.
Average Capital City Rents in Australia
Sydney $593
Melbourne $448
Brisbane $430
Adelaide $364
Perth $454
Hobart $337
Darwin $523
Canberra $491
