Rent in capital cities continues upwards march

Figures released today by RP Data have confirmed what many property investors already know - weekly rents are increasing solidly in all capital cities.

According to RP Data, weekly rents have soared in Perth and Darwin at 60.5% and 65.3% respectively over the three years to October 2008.

All other capital cities registered rental growth around the 30% mark over the same period.

The suburb that attracted the most expensive rents in the country was Clontarf in Sydney’s northern beaches with a weekly housing rent of $1,600.