June quarter report has good news for many investors
The LJ Hooker June quarter rental review, powered by RPData, reports: Rental markets ...
The LJ Hooker June quarter rental review, powered by RPData, reports:
- Rental markets nationally increased over the June quarter.
- Weekly rent increases were recorded nationally both houses and units.
- Nationally, weekly rents are up by 4.2% for houses and by 2.8% for units over a year.
- Growth in advertised rental rates over the year was most significant in Sydney, Perth and Darwin - cities characterised by a limited supply of new housing stock and tight vacancy rates.
- Regional and rural markets, particularly those associated with the mining and resources sector, generally enjoyed strong growth in rental rates over the past 12 months.
- Regional coastal and lifestyle markets recorded much more subdued rental growth over the year due to lower overall levels of housing demand.
- Based on median advertised house rents, the Pilbara region of Western Australia is the most expensive in which to rent with a current median advertised rent for houses and units of $1,700/week.