Home News Affordable rentals still present in the territory

Affordable rentals still present in the territory

Font size :
Despite the tightening of rental conditions throughout the year, the latest figures from Allhomes indicate that tenants can still bag a bargain in the territory.

The district of Belconnen dominated the ten affordable suburbs to lease a family home, with Latham and Ngunnawal having the lowest median price of $400 a week. This was followed by Isabella Plains at $410 and Queanbeyan East at $415. Other suburbs with a median rental price of $420 a week were Calwell, Evatt, Holt, Karabar, Page, and Scullin.

As for those who are opting for the lower price of a unit, Greater Queanbeyan emerged on top of the ten most affordable suburbs to lease a unit. Queanbeyan East had the lowest median price at $225 a week, followed by Crestwood at $240 and Queanbeyan at $260.

These suburbs remain affordable in spite of the shrinking supply and consistent demand that has put pressure on rental prices. The ACT and Queanbeyan median weekly rent increased by five per cent over the year to reach $420 a week during the May 2016 quarter.

However, building and unit approvals remain strong, and these could likely take some heat out of the current rise in prices. These provide a good indication of the potential future supply level.

It is also expected that interest rates might be cut once more this year, particularly in August. This could ignite investor activity, adding more stock to the market and pulling rents down.

Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker

Mortgage News and Articles

Mortgage applications drop in second quarter Mortgage applications drop in second quarter

This marks the “beginning” of a downward trend, says Equifax executive Read more

To break monopoly, many smaller lenders could become banks To break monopoly, many smaller lenders could become banks The proposed change could break the Big Four’s monopoly over the mortgage market and help families get cheaper home loan rates ... Read more

Borrowing against the home: A strategy to pay for aged care Borrowing against the home: A strategy to pay for aged care Such debts can generally be divided into long-term and short-term loans ... Read more

NAB slashes growth forecasts for houses, units NAB slashes growth forecasts for houses, units Numerous factors, including tighter credit rules and the growing supply of new stock, have reined in Australia’s seemingly unstoppable housing market boom ... Read more

More mortgage news and articles

Sponsored Links

Saturday, Jul 22, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Whether you're a first homebuyer, looking to refinance, or investing, it's important to have the right loan for your needs. Just fill in a few details below and one of our trusted mortgage advisers will contact you.

A quick & easy way to find the right home loan
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords