Rents jump by up to 13 percent
Rents have jumped by up to 13 percent in the past year for new tenancies. Tenants are now paying a $60 a week more than they were a year ago in the most popular suburbs.
The average rent increase for new tenancies in all Sydney suburbs was 7.7 percent, or $38 to $540 a week.
Melbourne's average rent increase for new tenancies was 6.2 percent or $22, to $385 a week, but in Kew, average rent increased by $45 a week.
The average rent increase for new tenancies throughout Brisbane was 3.4 percent or $11 to $341 a week.
The figures come from the latest Quarterly Rent Report by RUN Property.
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Rents have jumped by up to 13 percent in the past year for new tenancies with the top 15 suburbs in both Melbourne and Sydney having rent increases of at least 8 percent. Tenants are now paying a $60 a week more than they were a year ago in the most popular suburbs. The solid rental returns for property owners in the September quater compared with the same period last year follow similar results in each quater over the past year, producing strong results for landlords.
The Sydney suburbs of Edgecliff, Randwick, Ryde, newton, Surry Hills and Neutral Bay recorded rent increases of more than 10 percent for new tenancies over the past year. The average rent increase for new tenancies in all Sydney suburbs was 7.7 percent, or $38 to $540 a week.
In Melbourne, Thornbury, Oakleigh, Fairfield, Carlton North, South Yarra, Kew and East Melbourne had rent increases of at least 9 percent for new tenancies over the past year. Melbourne's average rent increase for new tenancies was 6.2 percent or $22, to $385 a week, but in kew, average rent increased by $45 a week.
In Brisbane, the Strongest performing suburbs were Nudah, St Lucia, Toowong, Taringa and Auchenflower where rents for new tenancies increased by at least 4 percent. The average rent increase for new tenancies throughout Brisbane was 3.4 percent or $11 to $341 a week.
The figures come from the latest Quaterly Rent Report by RUN Propert
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