Rents down for landlords in late 2018: CoreLogic

Rents down for landlords in late 2018: CoreLogic
Rents down for landlords in late 2018: CoreLogic

Rents across the nation were -0.1% lower in December 2018 and were recorded at $433/week, according to CoreLogics latest quarterly rental report.

The report found that, while rents fell -0.2% to $462/week across the combined capital cities over the month, in the combined regional markets rents increased by 0.2% to sit at $373/week.

Rents were lower in Sydney, Darwin and Canberra, they were unchanged in Melbourne and higher in the remaining capital cities.

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Rents down for landlords in late 2018: CoreLogic

Sydney remains the most expensive capital city rental market with a median rent of $583/week which is $43/week more expensive than Canberra rents ($539/week) which are the second most expensive in the country.

"Historically Hobart has been the most affordable capital city rental market however, strong rises in rents over recent years have pushed rental costs well above those in Adelaide and Perth and now marginally higher than rents in Brisbane."

"The rental market remains mixed with rents falling in Sydney and Darwin and a fairly significant slowdown in growth in Melbourne."

Rents down for landlords in late 2018: CoreLogic

"Sydney and Melbourne are seeing the impact of such significant demand from investors over recent years along with a substantial ramp-up in new housing (largely apartment) supply, much of which was purchased by investors."

Darwin rents have been falling for many years and they continue to decline.

The past year has seen a change of direction for both the Brisbane and Perth rental markets, following years of declines, rents are now rising again. 

Tags: 
Rental Rates Rental market

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