Canberra overtakes Sydney as most expensive rental city: Domain Group

Canberra has overtaken Sydney as the most expensive capital city across Australia in which to rent a house after Sydney experienced its first annual decline in house rents in more than 12 years.

Median weekly asking rents for houses in Sydney fell 1.8 per cent to $540 over the December quarter with landlords in the west and south-west suffering from the biggest blow, according to Domain’s latest rental report.

Canberra prices have risen 3.7 per cent over the year, with asking rents for houses now at $560 per week – the most expensive in the country – and an 8.1 per cent increase to unit rents now sitting at $465.

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Source: The Financial Review