Rent.com.au Monthly Market Report for September 2020

Report Highlights

• Restrictions in Melbourne are slowly easing, but the market has been hit by pressure from the latest lockdown. Apartments took 17% longer to lease than in August.
• Demand in Victoria’s regional areas saw a 3% increase in regional median rent.
• Brisbane, Perth, Canberra, Darwin and Melbourne, Hobart and Darwin all recorded an increase in the national rental price per room (apartments and houses combined).

Days on Market

Rent.com.au’s average time on market measure is designed to provide some context to the movement in median rents across Australia.

Darwin apartments saw the most change in September, leasing 22% faster, now 23 days. Houses in all metro capitals came off-market quicker month-on-month, with the most significant changes seen in Hobart (21% quicker – now 15 days) and Darwin (16% faster to 19 days).

Perth Market

Both Perth apartment and house prices have increased by an average of $10/week, up 2.8% (apartments) and 2.5% for houses. However, the influx of new apartments entering the market has seen some downward pressure on apartment pricing.

SOURCE: www.rent.com.au