EPMEPM: Industry NewsNational

National rents on the rise: CoreLogic Rent Review December quarter

Property investors will welcome news from CoreLogic that although rental yields are flat, rental rates are on the rise.

According to the latest CoreLogic Rental Report over the December quarter, all capital cities, excluding Canberra, achieved a stronger annual change in rents over the past year compared to the same period in 2016. Simultaneously, regional markets also earned a rental increase.

Nationally, rents rose by 0.3% over the quarter; greater than the 0.1% over the previous quarter but the weakest fourth quarter for rental growth since 2014.  Combined capital city rents remained unchanged while combined regional markets recorded growth of 1.2%.  For the capital cities it was a moderate slowdown from the 0.1% growth in the third quarter as well as being slower than the 0.3% increase in the fourth quarter of 2016.

Note: The CoreLogic rental report highlights the performance of not only the capital cities but also rental growth and rental yields across each of the SA4 regions (regional) of each state and territory.


Where rents where rates grew and where declined over the December quarter:

  • Higher over the quarter – Melbourne (+0.3%), Adelaide (+0.9%), Hobart (+2.1%) and Canberra (+1.6%).
  • Lower over the quarter were – Sydney (-0.3%), Brisbane (-0.1%), Perth (-0.7%), & Darwin (-0.5%)


  • Median weekly rents nationally are recorded at $420 for houses and $425 for units.
  • Weekly rents increased by 0.1% in December 2017 to be 0.3% higher over the final quarter of 2017 and 2.7% higher over the 2017 calendar year.
  • Capital city rents now -0.1% lower over the quarter and 2.9% higher year-on-year while regional market rents are 1.2% higher over the quarter to be 3.0% higher over the past 12 months. Rents are lower over the past three months in Sydney, Brisbane, Perth and Darwin and higher elsewhere.
  • Over the past 12 months, rents have increased in all capital cities except for Perth and Darwin with the rate of annual rental change higher over the past year than it was over the previous 12 months in each capital city except Canberra.
  • Combined capital city house rents were $457/week and unit, $449/week
  • Combined regional markets rents were $351/week for houses and $349/week for units.

CoreLogic research analyst Cameron Kusher said, “Overall the rental data indicates to us that although rental growth has accelerated over the past 12 months, the quarterly data is pointing to softer growth.”

“Typically, the first quarter of each year shows strong positive seasonality so it will be interesting to see how growth over the first quarter of 2018 compares to the first quarter of 2017.  As the latest result show, the final quarter of 2017 was relatively weaker for rental growth compared to the previous year.”

“Hobart has led both value and rental growth over 2017 highlighting strong demand for housing.  While Hobart remains the most affordable capital city in which to purchase a home, the cost of renting is now higher in Hobart than both Adelaide and Perth.”

“A number of the prominent regions linked to the resources sector have seen rents increase over the year.  Although rents remain well below their previous peaks the data highlights some rental pressures returning to these markets.”

“With rental growth outpacing dwelling value growth, there may be some moderate improvement in gross rental yields over the coming 12 months.”

View the latest CoreLogic Rent Review here.

Show More

News Room

If you have any news for the Real Estate industry - whether you are a professional or a supplier to the industry, please email us: newsroom@eliteagent.com