Rent.com.au Monthly Market Report for June 2020

Report Highlights

• As restrictions begin to ease across the country, rents in some metro areas have begun to slowly improve.
• In June, Perth became the cheapest place in the country to rent an individual room across all dwelling types (apartments and houses) at $133/week, despite a 2.5% price increase year-on-year.
• Darwin was the only metro capital where both apartment and house rents fell in June.

Days on Market

Apartments on the market slowed across the board in June, with properties taking longer to lease in all metro areas bar Brisbane and Canberra.

Brisbane apartments were least affected, leasing 3% faster in June, now 28 days.

For houses, however, conditions were a little different. By and large, house rentals moved off the market faster month-on-month, with the most noticeable improvement also in Brisbane (19% faster to 21 days) and 11% faster in Melbourne and Perth.

Perth Market

Rent.com.au’s price per room metric offers another way to look at the cost of renting in Australia for people looking to share a home and save money. Perth room prices remained stable in June, holding the title as the cheapest metro area to rent an individual room in a house, at $120/week. Canberra sits on the top end of prices at $335/week for an apartment room.

SOURCE: www.rent.com.au