Hobart records double-digit housing rental growth: Domain

Hobart records double-digit housing rental growth: Domain
Hobart records double-digit housing rental growth: Domain

Hobart experienced the highest annual growth in weekly house rents with a 10.8% increase to $410 per week, according to the latest rental report from Domain.

The report found, Hobart was the only capital city to record double-digit rental growth.

Unit rents however declined by 2.8% over the quarter to $350 per week, but remained strong with an annual jump of 9.4%.

Hobart records double-digit housing rental growth: Domain

"The significant momentum that built in Hobart’s competitive rental market over the past two years appears to be easing," said Domain Senior Research Analyst, Dr Nicola Powell.

"Available rental stock has marginally increased, which is anticipated as the city has seen an increase in housing developments alongside heightened investor activity.

"Despite recording the strongest annual rate of growth of the Australian capital cities, the pace of growth is now slowing."

Tags: 
Hobart Rental market

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