Sydney house rents up $55 per week in six months, but Brisbane rents down: Residex
Renters of houses in Sydney are paying an average of $55 more a week than they were six months ago, with median house rents rising from $500 to $555 in the space of six months, according to the latest Residex data.
Sydney recorded a 6.73% increase in median house rents over the course of 2011, the biggest increase of all the capital cities.
Brisbane was the only capital city market to record a decline in house rents over 2011 with renters paying $375 per week on average (an decrease of 2.6% over 2011) compared to $380 six months ago.
Perth recorded the second biggest capital city increase, with house rents rising 5.26% over the past 12 months to a median of $400. On average Perth renters are paying $10 more than they did a year ago.
Area | Rate month ending Dec 2011 | Month ending Dec 2011 | Year change |
ACT | 4.78% | $480 | 3.23% |
Adelaide | 4.33% | $330 | 0.00% |
SA Country | 5.02% | $255 | 6.25% |
Brisbane | 4.59% | $375 | -2.60% |
QLD Country | 5.25% | $370 | 2.78% |
Darwin | 5.82% | $540 | 3.85% |
Northern Territory | 5.95% | $525 | 0.96% |
Hobart | 4.55% | $340 | 0.00% |
TAS Country | 4.84% | $250 | -3.85% |
3.45% | $380 | 1.33% | |
VIC Country | 4.78% | $305 | 1.67% |
Perth | 4.45% | $400 | 5.26% |
WA Country | 5.00% | $335 | 4.69% |
Sydney | 4.40% | $555 | 6.73% |
NSW Country | 5.29% | $340 | 3.03% |
Australia | 4.43% | $365 | -1.35% |
Darwin remains the second most expensive city to rent a house, with rents increasing by 3.85% to $540 per week.
Outside of Brisbane, Country Tasmania was the only other market to register a decline in rents over the year with the median rent falling 3.85% to $250 per week.
Capital city rent changes over past six months:
| Median weekly rent Dec 2011 | Median weekly rent June 2011 |
Sydney | $555 | $500 |
Darwin | $540 | $520 |
Canberra | $480 | $480 |
Perth | $400 | $390 |
$380 | $380 | |
Brisbane | $375 | $380 |
Hobart | $340 | $350 |
Adelaide | $330 | $320 |
Australia | $365 | $370 |
Source: Residex
