Sydney, Hobart record greatest rent increases: CoreLogic RP Data
Michael CrawfordDecember 7, 2020
Sydney and Hobart both recorded the greatest increase in weekly rent over the past year, despite the fact the annual rate of growth is reaching new lows.
Figures from the CoreLogic RP Data June Rental Index found rental rates fell by 0.2% in June but have increased by 1.1% over the past 12 months, the slowest rate of growth on record since December 1995.
Sydney and Hobart had the largest increases in weekly rents over the past year.
Combined house rents have fallen 0.2% over the last month with rental unit rates increasing 0.2%. According to the report, sluggish annual rental growth is well below the ten year average level.
Unit yields are lowest in Melbourne (4.2%) and Sydney (4.3%) and highest in Brisbane (5.4%) and Darwin (5.3%)
Michael Crawford
Michael is the real estate reporter for western Sydney and loves writing about homes and the people who live in them. A former production editor and news journalist, he enjoys writing about real-world property purchases as well as aspirational buys and builds. Following a recent move from Sydney’s northern beaches, Michael now actually enjoys commuting.