Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Darwin rents Australia’s priciest

Staff Reporter 4 minute read

Jessica Darnbrough

Darwin is the most expensive capital city to rent property, new research has found.

According to the latest RP Data research, houses are most expensive to rent in Darwin with a median advertised weekly rent of $520. Canberra is the second most expensive city with rents of $495/week followed by Sydney at $450/week.

The most affordable capital city in which to rent a houses is Adelaide ($320/week) followed by Hobart ($325/week).

Advertisement
Advertisement

Within the unit market Darwin is the most expensive city for rents ($430/week) followed by Sydney ($425/week) and Canberra ($400/week). Hobart units are the cheapest to rent within a capital city ($278/week) followed by Adelaide at $280/week.

Over the last five years the weekly rent on a unit both nationally and within the capital city markets increased by more than that of houses.

RP Data analyst Cameron Kusher said that this result reflects the growth in demand for units as lifestyle preferences change and affordability pressures increase.

“Growth rates across house and unit rental markets are still well below the average annual level of rental growth recorded at 7.0 per cent and 7.3 per cent respectively. In recent times unit rental markets have been outperforming houses,” he said.

Darwin rents Australia’s priciest
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

PROMOTED CONTENT


default

 

more from the adviser
handshake news Ex-broker head to lead MyState banking

A former broker head has returned to MyState Bank to tackle turna...

BBS 2021 ta SA/NT’s top brokers crowned

The leading brokers in South Australia and the Northern Territory...

Paul Kearney ta AFCA recruits from ME Bank

The complaints authority has named a new executive general manage...