Rent.com.au Monthly Market Report for December 2020
Report Highlights
- December saw rises in median rent for apartments in Darwin, Brisbane, Adelaide, Perth and Hobart.
- While the national price per room remained unchanged in December 2020, Brisbane also recorded the most notable change, affected by growth in median rents for both property types.
- For the first time in 12 months, Sydney’s apartment and house median rents were down, dropping 2.1% and 3.2% respectively month-on-month.
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.Of all metro areas, Brisbane was the one to record the most significant change to time on market, month-on month. Apartments leased quickest in the QLD capital in December, coming off the market in 24 days (11% faster). Year-on-year, the metro capital to record the greatest change was Melbourne, today taking 86% longer (now 42 days) to move an apartment than it did in Nov 2019.
Perth Market
Rent.com.au’s price per room metric offers another way to look at the cost of renting in Australia. Looking at the annual change from the December data, all metro capitals bar one (Adelaide) saw an upward trend in price per room for houses, with the most significant change in Perth, up 13.9% to $136/week. The cost of a room in an apartment in Perth was also up year-on-year, rising 4% to $208/week. Areas with consistent upward changes for both apartments and houses included Brisbane, Perth, and Hobart.
SOURCE: www.rent.com.au
