December capital city house asking rents rise 6.9% in Hobart: SQM Research

December capital city house asking rents rise 6.9% in Hobart: SQM Research
December capital city house asking rents rise 6.9% in Hobart: SQM Research

Residential vacancies nationwide rose during December with a final vacancy rate of 2.7% recorded, according to SQM Research, who put the increase down to seasonal trends.

SQM research recorded 81,401 rental vacancies in December, according to managing director Louis Christopher, who said the demand for rentals is still on the rise.

"The national rise is attributed to a combination of factors, including issues with supply and demand, the ongoing impact of the commodities downturn, and seasonal holiday trends," he said.

"December for example, normally does record a sharp rise in vacancies.

Click to enlarge

December capital city house asking rents rise 6.9% in Hobart: SQM Research

"Notably, Darwin has recorded a fall in asking rents of 12.3% for houses and 11.2% for units over the past 12 months, according to SQM Research. Yearly falls have also been recorded in Perth, with asking rents down 9.6% for houses and 9.7% for units."

Mr Christopher said Hobart has recorded the fastest rental rises for the capital cities with asking rents rising 6.9% for houses, while units underperformed, falling by 1.6%. Hobart also has the most affordable rental accommodation with rents for houses at just $340 a week, while units on average rent for $270 a week.

Click to enlarge

December capital city house asking rents rise 6.9% in Hobart: SQM Research

Michael Crawford

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.

Tags: 
Hobart Rental Prices

Comments

Be the first one to comment on this article
What would you like to say about this project?