Rent.com.au Monthly Market Report for May

Report Highlights:

   • Apartment prices in Sydney, NSW have not been this high ($550) since October 2017, jumping 1.9% to
$550 a week from April to May 2018.
• The price per room in Adelaide, SA is now the highest it has been since July 2015. May saw the first rise
in prices, jumping upward by 3.85%.
• Perth, WA remains the most affordable option for renters looking for shared accommodation ($120)

Days on Market

Rent.com.au’s average days on market measure provides context to the movement in asking rents. Days on
market in Perth improved significantly in May, taking 16.8% less time to move an apartment than 12 months
prior in May 2017. Trends were similar in Darwin, where houses shifted quicker under a wave of continued
rental demand, slowing movement to 33.9 days. In Brisbane, apartments moved 14.4% faster (27.4 days) and
houses 7.6% faster. Mr Bader said this movement across several capitals was indicative of healthy leasing
activity prompting increased demand. “This is good news for property owners and investors who are seeing
their vacancy time reduced,” he said.