Property market update: Perth, May 2022
Perth continued to outperform its bigger capital counterparts in May, as the city closed up the autumn season with a sol...
Australia’s capital cities are experiencing a healthy growth in rents, particularly in two cities, according to figures by RP Data.
Most of the rental growth has been inand Darwin, where it has increased by more than 10 per cent over the past year.
RP Data senior researcher Cameron Kusher told Smart Property Investment that rents were generally trending higher. The exceptions were Hobart and Canberra where they had fallen by 1.5 per cent and 0.9 per cent respectively.
“[Rents] have typically grown at a faster pace than values over the past year, so we are tending to find that rental yields are improving,” he said.
“You’ve got strong yields in Darwin, up around six per cent, so too in Hobart and Canberra. There’s been some big improvements in yields in Perth, and Brisbane units are now yielding more than 5.5 per cent. From an investor perspective, some of those product types are becoming more attractive.”