Rent.com.au Monthly Market Report for April 2021

Report Highlights

• Median rents were consistently up in Canberra in April for both apartments (up 2.1% to $465/week) and houses (1.7% to $570/week).
• Darwin apartments recorded the most significant downward shift in median rents in April, with prices down 5.2% to $360/week.
• Queensland and Western Australia continue to battle against a rental squeeze, with high demand challenging low supply levels and keeping vacancies low.

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.

The latest time on market data for April 2021 showed that almost all metro areas kept properties on market for longer month-on-month. Canberra apartments recorded the most significant slowdown in time on market in April.

Properties took 18 days on average to shift, which is 22% longer than in March. The most noticeable slowing was in Sydney for houses, which took 19% longer to lease in April, averaging 25 days to move.

Perth Market

Rent.com.au’s price per room measure is another way to look at the cost of renting in Australia. Houses saw the most significant shift in room costs annually, with upward movement in all states and territories. Perth (up 21.4%), Darwin (up 19.3%) and Hobart (up 18.7%) topped the list in April. The country’s most expensive room prices remain in Canberra for apartments at $350/week and in Sydney for houses ($216/week).

SOURCE: www.rent.com.au