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Justprop Team member

Justprop Team member

Hobart recorded the highest quarterly rise in weekly house rents at 4.3 per cent, followed by Adelaide at 3.7 per cent, Perth at 3.6 per cent and Brisbane at 3.5 per cent. Meanwhile, Sydney, Canberra and Darwin remained stable. Of all the capital cities, only Melbourne saw house rents decline by 2.3 per cent – making it the second most affordable capital city to rent a house for the first time on record, alongside Perth and behind Adelaide. “For the first time on record, Melbourne is the second most affordable capital city to rent a house, joint with Perth and behind Adelaide,” Domain’s senior research analyst, Dr Nicola Powell, said. But while Melbourne’s vacancies have declined in recent months, they remain 182 per cent higher than last year, according to Dr Powell. This was directly influenced by the reduction of demand as a result of international border closures, more tenants becoming home owners and city residents moving to lifestyle locations. “Inner Melbourne units have felt the brunt, with rents now at 2010 levels after tumbling by $110 a week annually,” Dr Powell noted. Source: x Melbourne becomes Australia’s 2nd most affordabl... While most capital cities saw house rents soar to new record highs over the first quarter of 2021, Melbourne continued to lag behind – becoming the second most affordable capital city to rent in Aus...
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