Rental markets weaken in majority of capitals

By Staff Reporter

According to a newly released report, all capital cities recorded slowing rental conditions over the June quarter except Adelaide and Darwin.

The Bendigo Bank Real Estate Market Facts report has revealed the median rent for three-bedroom houses fell in five cities, while Sydney experienced no change and Adelaide and Darwin recorded a rise.

The largest decrease was seen in Hobart, where rents are down by 5.7 per cent.

Canberra was close behind with a 4.4 per cent decrease.

PerthPerth, TAS Perth, WA fell by 2.1 per cent, Brisbane by 1.3 per cent and Melbourne by 1.1 per cent, while Sydney recorded flat rates.

On the other hand, Adelaide house rents nudged upwards by 1.8 per cent while Darwin house rents climbed by 1.7 per cent.

In terms of other dwellings, the rental results were more favourable to landlords over the quarter, though growth was fairly subdued.

Only Adelaide recorded a drop for two-bedroom other dwellings, with rents down by 0.1 per cent.

Melbourne other dwelling rents remained flat over the quarter.

Brisbane, Hobart, Perth and Sydney recorded moderate increases of 0.1 per cent, 0.2 per cent, 0.3 per cent and 0.4 per cent respectively.

The strongest results were in Darwin and Canberra, where rents for other dwellings climbed by 0.6 per cent.

The full results are reproduced below:

Bendigo Bank - rents

Rental markets weaken in majority of capitals
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