Darwin & Canberra have the most expensive rents

According to the RP Data September 2010 quarter Rent Review Report, there is good news for investors with rental markets in city and regional areas, with signs showing that they are in recovery mode. The report confirmed that capital city rents increased by 2.8% over the last 12 months. However, rental growth remained flat both nationally and throughout the combined capital cities during the quarter.

The report found the following:

• Weekly rental rates increased nationally by 2.9% over past 12 months
• Unit rents in the city over the past 5 years increased more than houses
• Canberra and Melbourne were the only cities that recorded a rental increase in houses over the September quarter 
• Darwin rental houses are the most expensive of any capital city followed by Canberra
• Pilbara in WA has the most expensive rents of all regional markets at $1500 p/w
• The cheapest capital city rents for houses is in Adelaide at $320 p/w