Rent.com.au Monthly Market Report for April 2019

Report Highlights

• Four of Australia’s states and territories (Melbourne, Brisbane, Adelaide and Hobart) saw a
  decrease in house median rents in April 2019.
•  Darwin was the strongest performer for apartments in April, with median rents up 10.8% to $360.
•  Nationally, house median rents came down 1.1% to $440/week.
•  Across all property types, Perth was the cheapest place to rent a room in January at $126/week.

Days on Market

Adelaide, Hobart and Canberra were the only Australian capitals where apartments saw an improvement
in time on market month-on-month. Properties took an average of 19 days to lease in Adelaide (5% faster
month-on-month) and 13 days in Hobart, a 13% improvement. In Canberra, apartments took 17 days (a
3% improvement). In Darwin, however, apartments were on market 21% longer, taking an average of 41
days to shift.

RENT CEO Greg Bader said that all in all, a slowdown recorded in many metro capitals for both apartments
and houses was in line with trends from 12 months ago. “What we can see happening in April 2019 isn’t
unlike what we saw in April 2018 and the number of properties leased on site have dropped, something we
could put down to the extended period that took in Easter, school holidays and ANZAC Day,” he said.

Perth Market

According to the latest data, which considers the room price metric, Darwin was the most affordable
Australian capital for house hunters looking to rent an individual room in an apartment at $145/week.
Meanwhile, Perth took the affordability lead at $123/week for houses.

Interestingly, Perth apartment room prices were up 17.2% in April to $218/week – the highest of all capitals.
The most expensive rooms were (somewhat unsurprisingly) in Sydney, priced at $323/week, but only just.
The NSW capital is followed closely behind by Canberra at $320/week.

SOURCE: www.rent.com.au