Nila Sweeney

Rents continued to grow solidly across all property types in all capital cities in Australia, a new report shows.

RP Data revealed that on average, rents jumped by $41/week for houses and $35/week for units through 2008 - indicating a very strong rental growth.

Darwin outperformed the other capital cities with rents for houses jumping by $70/week or 18%. Units did even better with a $60/week increase in rent or 19%.

"Although Darwin's property values recorded the greatest increase through 2009, it is interesting to note that the city maintains the country's best rental yields at 6.25% for houses and 6.44% for units," noted Cameron Kusher, senior analyst with RP Data.
Sydney also staged a strong gain with an increase of 18% or $70/week over the year while unit rents climbed by 14% or $50.

Melbourne saw house rents rising by 17% or $50 per week, and units increasing by 14% or $40 per week.

In contrast, median rents for houses in Canberra only increased by 4% or $15 per week and units by 6% or $20 per week. Adelaide also underperformed with just a 5% increase or $15 on median rents for houses and units by 6%, or $10.

A leading factor to rental demand increase is no doubt Australia's record pace population growth, which has continued recently to reach a 40 year high, according to the Australian Bureau of Statistics.


It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan