Refresh Property Refresh Deals !

Melbourne cheaper city for renters

Date : October 11, 2012
 Simon Johanson
Property Editor for The Age


Melbourne a cheaper city for renters
It is now cheaper to rent in Melbourne than most other Australian cities.
IT IS now cheaper to rent in Melbourne than most other Australian cities.
Weekly asking rents in Darwin ($700), Canberra ($485), Perth ($450) and even Brisbane ($380) now outstrip the southern capital, new figures show.
In Melbourne, median rents for houses stayed flat over the September quarter, at $360 per week. By contrast, Sydney's hit a record high of $520 per week.
 
A sample of rental prices across the city.
However, in popular suburbs such as Albert Park, Kew and Balwyn, rents still rose sharply, according to Australian Property Monitors' September quarter figures.
Advertisement
Data from analysts SQM Research show Melbourne's vacancy rate was 2.8 per cent in August. Anything below 3 per cent is considered to favour landlords.
While the sluggish rental market was good for Melbourne's tenants, it meant property ''investors were quite disinterested in that market at the moment,'' Australian Property Monitors economist Andrew Wilson said.
Median rents in Darwin have hit $700 a week, a massive jump of 27 per cent over the year.
In Sydney, strong competition for rental properties was driving prices to record levels.
Unit rents in Edgecliff, Woolloomooloo, Leichhardt and Darlinghurst rose between 6 per cent and 9 per cent. But the rise was not uniform, rents fell in Glebe and Haymarket.
First home buyers were putting off buying and instead turning to the rental market, Mr  Wilson said. ''That means there's more demand ... and that's one of the factors that has driven up house rents,'' he said.
''A shortage of houses and an increase in competition from tenants for what is available has put upwards pressure on rents.''

Coupon Code

Get 10% discout on each package
  8F43670f

Ask us a questions 24 /7

Rent My House

Place an ad for just
$99 Total Price

Package includes...

Listed untill leased

Your property will remain advertised untill leased. You can make as many changes to your ad as you like!

Unlimited Changes to your ad

Unlimited free edits to your property listing. Make changes to your ad as many times as you like.

Upto 20 of your photos

Show off your property by uploading upto 20 of your own photos to your property listing in one easy step.
Find a tenant for your property now!

What People are saying

HIGH LEVEL OF COMMUNICATION!

Keith I take this opportunity to thank you sincerely and convey my appreciation for the hard work and diligence you showed during the process of selling our home. As you will recall our home had been with another agent who brought through 2 groups of people in 3 months and gave us no feedback. In 10 days you had 9 groups through and so it went on. Your consistent and regular feedback was much appreciated. From day 1 you were determined to sell our home and did so successfully. At all times you kept us informed of market conditions and interest in our property. Our open homes were well organised and expertly handled you both yourself and Brendan. I have no hesitation in recommending Keith Murphy from Refresh Properties to any buyers or sellers – believe me Keith will ‘make it happen’. Odette Palmer

WOW - SOLD IN 14 DAYS!!!!!

Selling your home can be a stressful and worrisome experience, but through Keith's very professional efforts, it became an enjoyable and comfortable process for me. When I found I had to do some unexpected painting, Keith did not hesitate to help me get that done - and she is a brilliant wall painter! If I have the opportunity to help anyone find a realtor on the Gold Coast, I would send them directly to Keith Murphy.

View All

About Refresh Property

Refresh Property Australasia is a sophisticated boutique international real estate group primarily based in Australia. With a single international website and a superior brand incorporating a soft colour scheme, Refresh Property operates only in specially selected metropolitan and lifestyle locations where a savvy, discerning clientele appreciates our premium, boutique identity and unique points of difference.

read more..

Benefits of Listings

  • Marketing your commercial property on realestate.com.au
  • Providing you with ongoing support from a team of Real Estate Experts
  • FREE Feature Listing
  • A FREE quality For Sale sign
  • Free changes to your advertisement
  • Professional advice 7 days a week
  • Varied Packages for your property listing
  • Multiple Upload for property images

Recent From Blog

snaps

5 tips to help your home sell quickly

To many buyers, a house that's been