Rents increasing across Australia
Wednesday, 22 May 2013
Australia’s capital cities are experiencing a healthy growth in rents, particularly two cities, according to figures by RP Data.
Most of the rental growth has been in Perth and Darwin, where rents have increased by more than 10 per cent over the past year.
In Sydney and Brisbane rents have increased at about three to four per cent, while Adelaide and Melbourne’s housing markets have experienced one to two per cent growth.
RP Data senior researcher Cameron Kusher told The Adviser that rents were generally trending higher. The exceptions were Hobart and Canberra where they had fallen by 1.5 per cent and 0.9 per cent respectively.
“[Rents] have typically grown at a faster pace than values over the past year, so we are tending to find that rental yields are improving,” he said.
“You’ve got strong yields in Darwin, up around six per cent, so too in Hobart and Canberra. There’s been some big improvements in yields in Perth, and Brisbane units are now yielding more than 5.5 per cent. From an investor perspective, some of those product types are becoming more attractive.”