Weekly rents increased by a mere 0.2% in Australian capital cities in March but overall they are down 0.2% year on year, the latest rental index shows.
In the last 12 months Melbourne recorded the biggest increase in rental rates at 2%, followed by Sydney at 1.4%, Canberra at 1.2% and Hobart at 0.3%. Rents fell by 11.5% in Darwin, by 8.4% in Perth, by 1% in Adelaide and by 0.7% in Brisbane.
The March Rental Review from CoreLogic RP Data analysts also shows that house rents averaged $489 per week in March 2016 while unit rents were $469 per week.
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