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Renting a property has by no means been costlier, as new knowledge reveals costs are hovering amid Australia’s price of dwelling disaster.

Rents hit file highs throughout the nation’s mixed capitals, in line with Area’s Quarterly Hire Report, with Canberra nonetheless the costliest metropolis for homes and models.

The median weekly lease for a home within the nation’s capital hit $690 per week, whereas Brisbane had the most important year-on-year improve of 16.9 per cent, taking the price to $520.

This was the steepest annual rise within the metropolis’s historical past, which has been attributed to younger households relocating to Larger Brisbane throughout the COVID-19 pandemic.

Melbourne remained essentially the most reasonably priced metropolis to lease a home, which was $460 per week after an increase of two.2 per cent within the June quarter.

Unit rents in Canberra have been the costliest at $550 per week, marking a ten per cent year-on-year improve.

Adelaide was essentially the most reasonably priced metropolis to lease a unit, at $380 per week, which was an increase of two.7 per cent.

MEDIAN WEEKLY RENTAL PRICES PER CAPITAL CITY:

Sydney – Home: $620, Unit: $525

Melbourne – Home: $460, Unit: $410

Brisbane – Home: $520, Unit: $450

Adelaide – Home: $480, Unit: $380

Canberra – Home: $690, Unit: $550

Perth – Home: $495, Unit: $400

Hobart – Home: $540, Unit: $450

Darwin – Home: $600, Unit: $480

AAP

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