Investor opportunity: 53 suburbs where rent rises are beating inflation
Fairfield, six kilometres north east of the Melbourne CBD, topped the list of suburbs to record inflation-busting rental growth for the year to January 2012 with rents rising 13.4% according to property manager Run Property.
In total 28 Sydney suburbs, 23 Melbourne suburbs and two Brisbane suburbs recorded rent rises above inflation (4.8%) over the 12 month period.
The list only includes those suburbs where RUN has sufficient data to give an indication of rental movement.
The rental component within the CPI recorded a 4.8% increase during the 2011 calendar year, according to the Australian Bureau of Statistics.
The full list is:
New South Wales
Suburb | Jan 2011 weekly rent average | Jan 2012 weekly rent average | Average weekly rent difference in dollars
| Percentage average weekly rent difference
|
EDGECLIFF | $389.26 | $438.28 | $49.02 | 12.6% |
CREMORNE | $469.92 | $524.97 | $55.04 | 11.7% |
SURRY HILLS | $495.16 | $551.96 | $56.79 | 11.5% |
BELLEVUE HILL | $434.99 | $479.98 | $45.00 | 10.3% |
COOGEE | $588.83 | $649.57 | $60.73 | 10.3% |
RANDWICK | $555.48 | $611.05 | $55.58 | 10.0% |
RYDE | $346.19 | $380.41 | $34.22 | 9.9% |
$446.15 | $489.46 | $43.31 | 9.7% | |
BONDI | $552.38 | $601.14 | $48.76 | 8.8% |
$584.35 | $635.47 | $51.11 | 8.7% | |
$408.76 | $444.38 | $35.62 | 8.7% | |
BRONTE | $499.04 | $541.44 | $42.40 | 8.5% |
$466.21 | $504.98 | $38.77 | 8.3% | |
NEWTOWN | $532.41 | $576.16 | $43.75 | 8.2% |
GLEBE | $492.92 | $531.67 | $38.75 | 7.9% |
WOOLLOOMOOLOO | $503.66 | $542.57 | $38.91 | 7.7% |
CHIPPENDALE | $592.24 | $636.35 | $44.11 | 7.4% |
DARLINGHURST | $512.71 | $550.51 | $37.80 | 7.4% |
$612.42 | $655.61 | $43.18 | 7.1% |
Victoria
Suburb | Jan 2011 weekly rent average | Jan 2012 weekly rent average | Average weekly rent difference in dollars | Percentage average weekly rent difference
|
FAIRFIELD | $292.89 | $332.11 | $39.22 | 13.4% |
$376.26 | $414.26 | $38.00 | 10.1% | |
FITZROY | $337.27 | $368.94 | $31.67 | 9.4% |
RICHMOND | $343.74 | $375.94 | $32.20 | 9.4% |
ARMADALE | $328.95 | $358.33 | $29.38 | 8.9% |
PRAHRAN | $359.29 | $390.25 | $30.96 | 8.6% |
FITZROY NORTH | $410.92 | $445.60 | $34.68 | 8.4% |
SOUTH YARRA | $361.03 | $390.72 | $29.69 | 8.2% |
$344.52 | $371.02 | $26.50 | 7.7% | |
NORTHCOTE | $412.05 | $443.64 | $31.59 | 7.7% |
$399.47 | $429.61 | $30.14 | 7.5% | |
KENSINGTON | $365.27 | $392.48 | $27.21 | 7.4% |
$366.57 | $391.50 | $24.93 | 6.8% | |
$377.66 | $402.50 | $24.84 | 6.6% | |
BRUNSWICK | $362.21 | $385.75 | $23.54 | 6.5% |
MALVERN | $391.60 | $415.64 | $24.04 | 6.1% |
CLIFTON HILL | $391.11 | $414.99 | $23.88 | 6.1% |
ESSENDON | $299.75 | $317.63 | $17.88 | 6.0% |
BRUNSWICK WEST | $263.60 | $278.85 | $15.25 | 5.8% |
MOONEE PONDS | $308.91 | $326.57 | $17.65 | 5.7% |
$378.82 | $399.69 | $20.87 | 5.5% |
Queensland
Suburb | Jan 2011 weekly rent average | Jan 2012 weekly rent average | Average weekly rent difference in dollars | Percentage average weekly rent difference
|
$290.57 | $310.50 | $19.93 | 6.9% | |
$324.71 | $341.18 | $16.47 | 5.1% |
Source: RUN Property
