Canberra and Darwin are Australia’s most expensive cities to rent

October 11, 2010 § Leave a comment

 

Darwin and Canberra remain the most expensive Australian cities to rent a home.  

This is occurring as the government and resource sectors, coupled with a shortage of housing stock, continue to push the cost of accommodation higher, The Australian reports.

Rents in Darwin and most other capital cities were steady for the three months to September.

But resource projects in the Northern Territory and tight supply are expected to trigger more increases in the Territory capital, where some residents have been seeking commercial warehouses as an affordable housing alternative, according to real estate agents.

The RP Data rent report showed Darwin’s average house rents were $520 a week, followed by Canberra, where rents had risen 3.1 per cent in the past three months to $495 a week.

RP Data analyst Cameron Kusher said while the biggest rises in the coming months would be in Sydney and Melbourne, rents in those cities would still not overtake Canberra or Darwin, which had transient populations. Read more… 

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Melbourne takes the lead in space race

September 6, 2010 § Leave a comment

Melbourne's CBD from Docklands at twilight
Image via Wikipedia

In the past year, the southern capital of Melbourne has edged out rival Sydney as having the biggest amount of lettable space in the central business district.

Some of the new space has come from the redevelopment of existing buildings, as well as the new Docklands area included in statistics as part of the city.

But to fuel the state-of-origin battle, Melbourne also has a lower vacancy rate than Sydney.

Read more…

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