Rent.com.au Monthly Market Report for February 2019

Report Highlights

Across the board, all but two states and territories (Brisbane, unchanged and Perth down 0.7%),
recorded an increase in apartment median rents in February.
• Hobart’s apartment rents rose most significantly of all capitals, up 4.2% to $365/week. The TAS
capital also saw the steepest increase in price per room for all dwelling types, up 7.8% to
$183/week.
• Growth recorded in Darwin’s rental market in February – apartments rose 2.9% to $350/week and
houses were up 2% to $490/week.
• Across all property types, Perth was the cheapest place to rent a room in January at $126/week.

Days on Market

The number of days on market for properties in Perth improved most significantly of all state/territory
capitals month-on-month. Apartments shifted 30.1% faster to take 35 days on average to lease, against a
30.5% improvement for houses, now 30 days.
“Some health leasing activity coming over from the January/February rush has increased demand, so
renters will have needed to act fast to secure their rental of choice,” Rent.com.au CEO Greg Bader said. “This
is good news – it shows landlords are taking heed of advice from their property managers and rental data
to price their properties competitively from the start.”

Perth Market

Renting a standalone property isn’t for everyone. Situation-dependent, renters often find it easier to apply
for a shared accommodation option to ease the financial burden, rather than going it alone.
According to Rent.com.au’s latest data, which considers the room price metric (for price per room), Perth
remains the cheapest capital to rent an individual room in a house ($120/week), while Adelaide takes the
lead at $162/week for apartments.

SOURCE: www.rent.com.au