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Jessica Darnbrough
The Sydney suburb of Vaucluse has demonstrated itself to be an investor’s dream, recoding the greatest growth in median rent last year.
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According to recent statistics from RP Data, the median rent for a property in Vaucluse increased by 35.4 per cent to $1,625 per week.
RP Data’s national research director Tim Lawless said despite the sluggish rental growth performance nationally over the last year, certain areas have outperformed others.
Of the top 40 performing suburbs across Australia, Sydney well and truly dominated the list, with 28 suburbs making the grade.
But while some suburbs have achieved consistently high rents, other suburbs have underperformed.
The Perth suburb of Applecross recorded the greatest fall in media weekly advertised rent, falling 38.3 per cent on the year earlier.
“Overall, the national market has been witnessing fairly limited growth in rental rates during the last 12 months at a time when property values have been ramping up,” he said.
“With property value growth now slowing and fewer active buyers, we are anticipating that rents are likely to start to increase across the capital city markets."
