Login
ISCOVER
Staff Reporter
Australia’s highly anticipated mining boom has forced up the rent in Darwin, with the capital city boasting the most expensive rental rate in the nation.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
Renting a house in the top end will set Australians back, on average, $520 a week.
Canberra boasted the second most expensive median rental rate in the nation, while Sydney came in third.
For houses, Adelaide claimed the title as the cheapest place to rent with a weekly median of $325 followed by Hobart at $335.
Looking at the cost of renting a unit around the capitals, Darwin topped the list as the most expensive with a weekly median rent rate of $430, followed by Sydney at $425 per week. Canberra claimed third place at $420 per week.
“Overall, capital city rents increased by 1.4 per cent over the December quarter and have increased by 4.2 per cent during the past year. For the coming year we expect rental markets to tighten further and rental growth during 2011 will likely eclipse that of 2010,” RP Data’s report analyst Cameron Kusher said.
