Rent.com.au Monthly Market Report for June 2018

Report Highlights:
• Sydney’s median house rent has now been stable at $600 a week for six months running, after the last
drop of 3.2% from $620 a week.
• Melbourne’s apartment prices were up for the first time since February, rising 2.5% to $410 a week.
• For the third year running, Brisbane apartment room prices increased in June, up 7.7% to $237 a week.
• Houses are on the market for the least amount of time in Hobart, just 15.2 days.

Days on Market
Rent.com.au’s average days on market measure provides context to the movement in asking rents. Days on
market in Darwin improved significantly in June, taking 17% less time to move an apartment than 12 months
prior in June 2017. Trends were similar in Brisbane, where houses shifted quicker under a wave of continued
rental demand, improving to 23.7 days. Houses in Brisbane also moved 13% faster (23.7 days). Mr Bader said
this movement across several capitals was indicative of healthy leasing activity prompting increased demand.
“With leasing activity increasing, these markets are starting to re-balance, which is good news for owners,” he
said.