Most affordable and expensive capital cities for property investors

The capital cities, however, suffered declines in both house and unit prices over the same period, with average asking prices down 1.1 per cent and 0.2 per cent, respectively, to $1,002,000 and $567,300.

Looking at the markets separately, Darwin topped the tally for house price growth with a 4.7 per cent boost in the week ending 23 March. Hobart, on the other hand, led the unit asking price growth with a 13 per cent increase and was the only capital city to record double-digit growth.

Looking at the monthly data, Hobart dominated the capital city market, with house price growth of 1.9 per cent and unit growth of 2.4 per cent.

Hobart also saw the highest house growth in the last 12 months at 9.5 per cent, while Darwin saw the highest unit price growth at 17.3 per cent.

But despite these strong growth rates, Sydney remains the most expensive property market, with the average house asking price of $1,405,800 and average unit asking price of $674,900. At the other end of the scale is Adelaide, with an average house asking price of $540,900 and average unit asking price of $318,800.

Renting

Nationally, house and unit rents declined by 1.0 per cent to $499 and $391 over the week ending on 20 March, respectively.

Meanwhile, asking rents in the capital cities added an average 1.0 per cent for houses, growing to $551, while units declined by 1.0 per cent to $411.

During the same period, Adelaide saw the highest increase in house asking rents at 2.1 per cent, while Hobart saw the highest increase in unit asking at 8.7 per cent.

In the past month, Perth emerged as the winner for house rents with an increase of 1.4 per cent while Hobart still holds the crown for unit rents with an increase of 3.4 per cent.

Over the year, Darwin saw a 24.3 per cent increase in house rents, while Perth dominated unit rents with a 10.4 per cent increase. Notably, Perth house rents also saw a double-digit growth in house rents at 12.1 per cent.

Canberra stands as the most expensive capital city to rent both houses and units, with average rents at $660.4 and $493.6, respectively. Meanwhile, Adelaide is the most affordable rental market, with average house rents at $429.9 and average unit rents at $327.5.

How much do you need?

Depending on which capital city investors choose to buy in, here’s what they can expect to spend and an indication of asking rents.

Sydney
Buy houses: $1,405,800
Buy unit: $674,900
Rent houses: $656
Rent units: $454.2

Melbourne
Buy houses: $1,025,000
Buy unit: $573,700
Rent houses: $513.3
Rent units: $369.5

Brisbane
Buy houses: $668,100
Buy unit: $384,300
Rent houses: $479.4
Rent units: $383.2

Perth
Buy houses: $669,200
Buy unit: $390,200
Rent houses: $508.2
Rent units: $382.8

Adelaide
Buy houses: $540,900
Buy unit: $318,800
Rent houses: $429.9
Rent units: $327.5

Canberra
Buy houses: $826,100
Buy unit: $464,000
Rent houses: $660.4
Rent units: $493.6

Darwin
Buy houses: $595,300
Buy unit: $376,400
Rent houses: $585.2
Rent units: $394.7

Hobart
Buy houses: $632,800
Buy unit: $380,000
Rent houses: $478
Rent units: $408.3