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Rent growth slowest on record
“The sluggish pace of rental appreciation continues to be attributed to the ongoing boom in dwelling construction across Australia’s capital cities accompanied by record-high participation in the housing market from investors,” the report said.
Rents in Sydney rose over the year to July by 2.5 per cent to $593, while yields fell from 3.9 per cent to 3.3 per cent over the same period.
Hobart rents jumped 2.3 per cent to $339 while yields remained steady at 5.2 per cent.
Melbourne rents went up 2.1 per cent to $448 while yields dropped from 3.4 per cent to 3.1 per cent.
In Brisbane rents climbed by 1.1 per cent to $433 and yields dipped from 4.6 per cent to 4.5 per cent.
In Canberra rents rose modestly by 0.5 per cent to $486 while yields dipped from 4.2 per cent to 4.1 per cent.
Adelaide rents went up 0.3 per cent to $367 while yields fell from 4.4 per cent to 4.2 per cent.
In Perth rents fell 5.6 per cent to $468 and yields dropped from 4.2 per cent to 4.0 per cent.
In Darwin rents dropped 9.3 per cent to $549 and yields fell from 5.9 per cent to 5.6 per cent.
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