Rent.com.au Monthly Market Report for June 2019

Report Highlights

• Median apartment rents rose in five of eight metro areas in June; prices were up 5.7% in Canberra,
2.4% in Melbourne, 1.7% in Adelaide, 1.5% in Perth and 1.3% in Brisbane.
• Despite no change to its house prices, Canberra was the strongest performer of all state/territory
capitals, with rents up 5.7% to $465/week.
• The country’s national median regional rent saw its first change since October 2017 – up 1.3% to
$375/week, driven by movement in the larger states.
• Adelaide apartment room prices saw the most significant increase of all metro areas month-onmonth – up 13.1% to $172/week.
• Across all property types, Perth was the cheapest place to rent a room in January at $133/week.

Days on Market

Rent.com.au’s average time on market measure provides context to the movement in asking rents across
the country. Overall, houses were quicker to come off market in June than apartments, with four of eight
capitals seeing houses lease faster month-on-month (Brisbane – 8%, Melbourne – 5%, Perth – 1% and
Canberra – 1%). Despite a 5% slowdown in Hobart, houses leased quicker in the Tasmanian capital than in
any other state or territory, averaging 17 days.
Of the five largest states, Perth has seen the most significant change in leasing time year-on-year, with
apartments in June this year leasing 21% faster than they were in June 2018.

Perth Market

Rent.com.au’s price per room metric offers another way to look at the cost of renting in Australia,
particularly for people looking to share a home and save money. According to the latest data, Darwin was
the most affordable Australian capital for home hunters looking to rent an individual room in an apartment
at $155/week. Meanwhile, Perth retained its lead as most affordable room prices in houses at $122/week.

In June, Adelaide apartment room prices rose 13.1% to $172/week – the most significant increase of all
state and territory capitals. Sydney and Canberra recorded a decrease in the price per room for both
apartments and houses in June, dropping 4.7% and 0.2% respectively month-on-month. Considering
affordability, apartments led the charge in June with the bulk of pricey rooms being apartments: Canberra
($320/week), Sydney ($305/week) and Melbourne ($275/week).

SOURCE: Rent.com.au