28/10/2021
๐๐๐ฐ ๐๐๐ญ๐ ๐ซ๐๐ฏ๐๐๐ฅ๐ฌ ๐ญ๐ก๐ ๐ฆ๐จ๐ฌ๐ญ ๐๐๐๐จ๐ซ๐๐๐๐ฅ๐ ๐๐ง๐
๐๐ฑ๐ฉ๐๐ง๐ฌ๐ข๐ฏ๐ ๐๐๐ง๐๐๐ซ๐ซ๐ ๐ฌ๐ฎ๐๐ฎ๐ซ๐๐ฌ ๐ญ๐จ ๐ซ๐๐ง๐ญ ๐ ๐ก๐จ๐ฆ๐
๐ข๐ง ๐ญ๐ก๐ ๐๐๐
Canberra remains the most expensive city in Australia to rent a property at $633 per week, according to new data from CoreLogic.
Weekly rent in Canberra rose 9.6 per cent in the last 12 months and has far surpassed the national median price of $485 per week.
CoreLogic's quarterly rental review shows national rental rates are 8.9 per cent higher than this time last year, marking the highest annual growth since 2008.
Sydney's rental rates came in second highest at $595 per week, followed by Darwin where a rental property will set you back $561 per week and Hobart at $507 per week.
The most affordable Australian capital city for a rental is Adelaide at $440 per week.
CoreLogic's quarterly report also revealed the top 30 most expensive suburbs to rent in each city.
In Canberra, Campbell took out the top spot with a median rent of $952 per week for a house, followed by Throsby at $890 per week and Wright at $875 per week.
The top spot came as no surprise to Sarah Castrission of Homefinders Real Estate Campbell, who said the suburb attracts the whole spectrum of renters.
"You've got the established trees and the beautiful park, it's close to the lake and obviously close to the city and the airport, so it's perfectly located for a range of people ... from students to [people with] diplomatic status," she said.
One of her current listings, 43 Jacka Crescent, Campbell is listed for rent at $1400 per week. Inquiries for the four-bedroom home have increased since lockdown restrictions in the ACT have eased.
"We've had up to 10 people come through that home but definitely in the last week the inquiries have probably doubled," Ms Castrission said.
For those looking for a more affordable suburb to rent it's worth taking a look at Curtin, which comes in at a median rental rate of $442 per week for a unit.
Hawker came in as the second most affordable Canberra suburb at $447 per week for a unit, followed by Scullin at $449 per week.
While it might be the most affordable suburb to rent a unit, Curtin is in the top 10 most expensive suburbs for rental houses with a median price of $801 per week.
Emily Antill, business development manager at Hayman Partners Canberra, said there is strong demand for houses in the area.
"Given the Curtin Primary School is certainly one of the most sought after primary schools, families will do whatever it takes to secure a property that would get them into the school," she said.
Ms Antill has recently rented out a house in Curtin for $950 per week, as well as one for $1400 per week.
She said units in Curtin can be rented for anywhere between $290 per week for a studio, through to $400 per week for a two-bedroom unit.
"In terms of units you do have the smaller, older style apartments that are really popular for doctors and nurses who are maybe only here during the week or they're singles so they don't need heaps of space, and they're quite affordable," Ms Antill said.
"Then you've got a couple of new developments and the brand new development at the Curtin shops, which are one and two bedrooms, and they range from $400 right up to $650 per week."
CoreLogic research director Tim Lawless expects national rent prices will continue to rise for the foreseeable future.
He believes with little increase in household incomes rental affordability in Australia is also likely to become an issue.
"Data to March shows renters were spending an average of 28.7 per cent of their household income on rental payments, which is slightly above the decade average of 28.1 per cent," Mr Lawless said.
"Rental affordability has deteriorated further from there, which is likely to see more renters looking towards higher density rental options where renting tends to be more affordable."
Reference: www.canberratimes.com.au
