Rental prices edge up
Canberra and Adelaide rental prices increased more than the 2.8 percent national average for capital cities last September.
The average weekly rent of $455 for a three bedroom house in Canberra is way too far from the national average of $350 per week. Canberra's $395 per week for a three bedroom unit is also much higher than the national average of $385.
Canberra stands second to Darwin in terms of rental housing prices. Darwin house rentals reach $520 a week.
In Adelaide, the median weekly rent increased above $300. The prices for rental houses are expected to continue increasing until the end of 2010 due to ongoing demand for rentals, rising house prices, and rising interest rates.
Rental prices in Sydney, Brisbane, Perth, Adelaide, Hobart, and Darwin remained the same.
In July, the RP Data Rental Review showed capital city rental markets to have stayed flat during the first half of 2010. The median rental rate for two bedroom houses was $285. For three bedroom houses, it was $335.
One bedroom units were at an average of $310 a week, two bedroom units were priced at an average of $349 a week, and four bedroom units at $495 per week.