Rent rising in most capital cities
The average median rental price for a three-bedroom house has increased in six of Australia’s eight capital cities over the past year.
The Real Estate Institute of Australia has reported the weighted average median capital city house rent is now $401.80 per week.
Over the December quarter 2014, Melbourne saw the largest increase in average weekly rent, up 2.9 per cent to $360 compared to last the December quarter 2013.
Hobart’s weekly rent jumped 2.9 per cent to $350.
Canberra’s weekly rent rose 2.4 per cent to $430, with Sydney not far behind with a 2.3 per cent increase to $430.
Adelaide saw their average weekly rent rise 1.5 per cent to $330, with Brisbane’s increasing 1.4 per cent to $370.
Perth saw the largest drop in weekly rental prices, down 4.3 per cent to $440.
Darwin also saw a decrease, dropping 2.0 per cent to $640.
For two-bedroom other dwellings, Hobart saw the largest increase in weekly rent, rising 3.7 per cent to $280.
Brisbane was next with an increase of 2.8 per cent to $370.
Adelaide stayed unchanged at $280.
Canberra saw the largest drop of weekly rent, down 7.3 per cent to $380.
Perth also suffered a massive decline of 6.7 per cent to $420.
Darwin’s average weekly rent decreased 4.1 per cent to $466.