Data analytics group CoreLogic’s June rental review indicates some landlords have to reduce their rents in certain areas to keep their renters because of an apartment glut and slowing population.
While the combined capital city rental rates fell for both houses and units in June, half of the nation’s capitals recorded a rise in rents: Sydney (0.4%), Melbourne (1.7%), Hobart (4.6%) and Canberra (1.9%).
Over the past 12 months, large rental falls in Perth (-8.6%) and Darwin (-16.2%) have pulled the combined capital average lower, with rents in Brisbane (-0.3%) and Adelaide (-0.4%) also down slightly.
For house renters, Hobart remains the cheapest capital city with a median weekly rent of $358, followed by Adelaide at $372.
The cheapest units can be found in Adelaide ($315) and Darwin ($325).