It might be time to start thinking about an investment property or biting the bullet on getting into your first home following recent information regarding rental properties.
New research released by property agency RP Data shows that weekly rents have risen across every capital city in Australia over the past year except Hobart and Canberra.
Across all combined capital cities, weekly rents sit at $472/week for houses and $437/week for units. Capital city rents have increased by 3.4% for houses and by 2.6% for units over the past 12 months and rental yields (i.e. the return on your rental investment) are currently recorded at 4.2% for houses and 4.9% for units.
The information comes on the back of positive indicators in the housing market with Perth and Darwin seeing the strongest rental growth over the past year.