Canberra's rental market is expected to remain competitive for renters this year, according to Domain's latest report.
House and unit rents in Canberra hit new records late last year, climbing 3.4% to $ 600 and 3.1% to $ 495, respectively.
With this growth in rents, Canberra has become the most expensive capital to rent a house or unit. This is the first time in 10 years that the city has had the highest unit rents of any capital city.
While Canberra posted a monthly increase in rental vacancy rates in December to 1.1%, that level was still lower than the December 2019 rate of 1.7%.
"Tenants will find that securing a lease remains competitive and some may have to resort to the above advertised asking rent offer. This shortage of vacant rentals will continue to do so. drive up rental prices, ”the report says.
However, Canberra remains attractive to tenants and investors, given that it is relatively isolated from the impacts of the COVID-19 pandemic.
"The territory has fewer international arrivals compared to other cities, which has a lower impact on rental demand. Having a strong base of jobs in the function government resulted in minor job losses compared to those seen in the private sector, "the report says.
Top suburbs:
new farm
,
Hebersham
,
Westbrook
,
Will parliamentstown
,
north epping
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