“Working remotely has opened relocation opportunities, while changing border restrictions have also kept residents in Darwin longer than originally planned,” Powell said.
“As Australia contemplates its pandemic path to recovery, Darwin’s revived rental market hinges on economic and jobs growth.”
Perth house and unit rents have now hit a six-year high following four consecutive quarters of rising rents.
House rents jumped by $20 during the June quarter to $450 a week, surging by $80 over the past year, or 21.6 per cent—the fastest rate of rent growth in roughly 14 years.
For the first time in 13 years, Sydney is the third most expensive capital city in Australia to rent a house.
House rents remain at the record high of $550 per week, $10 above this time last year.
Meanwhile, for the first time on record, Melbourne is the most affordable of the capital cities to rent a house.
Despite this, Melbourne has been the main driver of the latest decline in the national vacancy rate, with the Victorian capital’s vacancy rate falling to 3 per cent in June, from 3.8 per cent in May.
Adelaide has hit a six-year high after four consecutive quarters of rising rents resulting in house rents nudging $5 higher over the June quarter to a record of $430.
Article Source: www.theurbandeveloper.com