{"id":176577,"date":"2024-10-10T17:30:07","date_gmt":"2024-10-10T06:30:07","guid":{"rendered":"https:\/\/propertyupdate.com.au\/?p=176577"},"modified":"2024-10-07T11:47:50","modified_gmt":"2024-10-07T00:47:50","slug":"latest-my-housing-market-rental-report","status":"publish","type":"post","link":"https:\/\/propertyupdate.com.au\/latest-my-housing-market-rental-report\/","title":{"rendered":"House Rents Still Easing but Vacancy Rates Remain Low | My Housing Market Report"},"content":{"rendered":"

Capital city home rental markets reported varied results over the first month of spring with vacancy rates continuing to tighten following the mid-year easing.<\/p>\n

House rents however were generally lower again with mixed rental growth for units.<\/p>\n

Most capitals again reported lower house rents over September with the exception of volatile Darwin with an increase of 5.6% and Hobart and Canberra where rents were steady.<\/p>\n

Brisbane, Sydney, Perth, Adelaide and Melbourne were all lower over the month, falling by 0.4%, 1.2%, 1.5%, 1.6% and 2.4% respectively.<\/p>\n

Sydney continues to report clearly the highest weekly asking house rents at $800 per week with Hobart still the most affordable, steady at $550 per week.<\/p>\n

Most capitals however continue to report sharp annual increases in house rents, with Darwin the highest rising 8.3%, Perth up by 9.2%, Adelaide higher by 8.4%, Sydney up 6.7%, Brisbane up 6.3%, and Melbourne rising 4.1%.<\/p>\n

Hobart annual house rents have increased by 1.9% and Canberra is up 1.5%.<\/p>\n

Most capital city house vacancy rates fell over September and remain just above or below 1.0%.<\/p>\n

Median Weekly Asking Rents September 2024 - HOUSES<\/h3>\n\n\n\n\n\n\n\n\n\n\n\n\n
City<\/th>\nRent<\/th>\nMonth<\/th>\nYear<\/th>\nVacancy Rate<\/th>\nChange<\/th>\n<\/tr>\n<\/thead>\n
Sydney<\/td>\n$800<\/td>\n-1.2%<\/td>\n6.7%<\/td>\n1.3%<\/td>\n\u2194<\/td>\n<\/tr>\n
Melbourne<\/td>\n$600<\/td>\n-2.4%<\/td>\n4.1%<\/td>\n1.3%<\/td>\n\u2191<\/td>\n<\/tr>\n
Brisbane<\/td>\n$638<\/td>\n-0.4%<\/td>\n6.3%<\/td>\n1.1%<\/td>\n\u2193<\/td>\n<\/tr>\n
Adelaide<\/td>\n$610<\/td>\n-1.6%<\/td>\n8.4%<\/td>\n1.0%<\/td>\n\u2194<\/td>\n<\/tr>\n
Perth<\/td>\n$655<\/td>\n-1.5%<\/td>\n9.2%<\/td>\n0.9%<\/td>\n\u2193<\/td>\n<\/tr>\n
Hobart<\/td>\n$550<\/td>\n0.0%<\/td>\n1.9%<\/td>\n0.9%<\/td>\n\u2193<\/td>\n<\/tr>\n
Darwin<\/td>\n$750<\/td>\n5.6%<\/td>\n8.3%<\/td>\n0.6%<\/td>\n\u2193<\/td>\n<\/tr>\n
Canberra<\/td>\n$680<\/td>\n0.0%<\/td>\n1.5%<\/td>\n1.8%<\/td>\n\u00a0\u2193<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The unit rental market<\/h2>\n

Unit rents however were generally higher or steady over the month after recent easing with Hobart the top performer up by 2.3% followed by Perth up 1.7% and Brisbane higher by 0.4%.<\/p>\n

Rents were steady in Sydney Adelaide and Canberra but fell in Melbourne and Darwin by 1.3% and 4.0% respectively<\/p>\n

Perth and Adelaide's annual unit rental growth remains sharply higher \u2013 up by 11.8% and 11.1% respectively.<\/p>\n

Brisbane unit rents have increased by 5.5% over the year to September, with Melbourne up 5.0% and Darwin 2.7% higher.<\/p>\n

Sydney, Hobart and Canberra annual unit rents are steady.<\/p>\n

Sydney remains the clear leader for weekly unit rents at $750, with Hobart still the most affordable now at $450 per week.<\/p>\n

Similar to houses, capital city unit vacancy rates were mostly lower over September compared to August with Canberra and Melbourne continuing to track above 2.0%.<\/p>\n