suburb growth

This week, we look at the capital city suburbs that have recorded the largest rises and falls in rents over the past quarter.

You might also like:
– Australia’s cheapest (and most expensive) suburbs revealed
– Rent.com.au rental market snapshot: June 2018

Rent.com.au‘s Financial Year Report showed that over the past financial year, the rental growth performance has been mixed across the capital cities.

Comparing Q2 to Q1 in 2018, apartment rents increased in Sydney (up 2.8%), Perth (3.2%) and Hobart (1.4%), while rents fell in Melbourne (down 4.7%), Brisbane (1.2%), Adelaide (1.6%) and in Darwin (1.2%).

Meanwhile, house rents jumped up in Adelaide (increasing 1.3%), Darwin (6.3%) and Canberra (1.9%) and fell in Perth (down 2.7%). All outstanding suburbs recorded no change in median rents quarter-on-quarter.

Of course, while the broad figures can tell us a far broader story, as always there are certain suburbs recording much stronger rental growth, as well as those seeing much greater falls.

The list below shows the suburbs with the greatest rental increases and decreases between Q1 2018 and Q2 2018. The data is based on leased property data with advertised rents and only includes suburbs that had at least 40 rentals advertised and leased in the quarter.

Across the capital cities, South Perth in Western Australia saw the greatest increase in median rents over the quarter, up 18.4%. Although there’s some variation across cities, it’s generally the areas of the city with higher priced housing stock that have seen the greatest rental rises over the past quarter. Victoria, like Western Australia and Queensland, featured prominently on the list for growth suburbs.

The Australian suburbs with the greatest RISES in rent from Q1 to Q2 2018

State Suburb Council area Rental median Quarterly change
WA South Perth South Perth $450 ↑18.4%
VIC Mount Waverley Monash $528 ↑17.2%
WA Rockingham Rockingham $300 ↑15.3%
QLD Annerley Brisbane $425 ↑14.8%
QLD Taringa Brisbane $400 ↑14.2%
VIC Preston Darebin $455 ↑13.8%
QLD Toowong Brisbane $510 ↑13.3%
WA Victoria Park Victoria Park $340 ↑13.3%
VIC Southbank Melbourne $611 ↑13.1%
VIC Hawthorn Boroondara $450 ↑12.5%

On the other hand, areas throughout New South Wales were some of the weakest performing suburbs for growth over the recent quarter.

Note that NSW suburbs make up the bulk of those with rental falls over the past quarter, highlighting the gradual flattening of the state’s rental market.

The Australian suburbs with the greatest FALLS in rent from Q1 to Q2 2018

State Suburb Council area Rental median Quarterly change
NSW North Sydney North Sydney $600 ↓14%
NSW Cremorne North Sydney $590 ↓12.3%
NSW Darlinghurst Sydney $660 ↓12%
NSW Epping Hornsby $525 ↓11.8%
NSW Baulkham Hills The Hills $520 ↓11.5%
WA Gosnells Gosnells $255 ↓11.3%
NSW Mosman Mosman $628 ↓10.7%
NSW Carlingford The Hills $510 ↓10.5%
SA Adelaide Adelaide $228 ↓9.9%
VIC Footscray Maribyrnong $345 ↓9.2%

You might also like:
– Australia’s cheapest (and most expensive) suburbs revealed
– Rent.com.au rental market snapshot: June 2018

Rent.com.au
Rent.com.au

Rent.com.au is Australia's largest company dedicated to renters and is owned and operated by ASX-listed Rent.com.au Limited (RNT:ASX). For over 14 years, Rent.com.au has exclusively focused on making renters' lives easier by making it easier to find a property, secure it, move in and pay rent. More than 83,000 properties are available to rent from 5,000 agents and private landlords. Renters have created 1.12 million Renter Resumes on the website to date.

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