Dec 18, 2022
Residential rents in capital city Australia are 24% higher than a year ago, according to the latest Rents Index from SQM Research.
Five of the eight capital cities have recorded annual growth of 20% or more in their rents, headed by Sydney which is up 28%.
Close behind is Melbourne which is up 24%, Brisbane 23% and both Perth and Adelaide where residential rents have increased 20%.
Canberra, Hobart and Darwin have recorded more moderate increases in rents, according to the SQM index.
The figures provide further evidence of the impact of record low vacancy rates across Australia – and the difficulties facing residential tenants around the country.