Capital cities see 17 per cent increase in advertised rent across two-year period

The last two years have seen advertised rent for capital city locations increase by 17 per cent with the hefty prices beginning to flow through into paid rentals as old leases are rolled over, according to REA Group Senior Economist Eleanor Creagh.

“So we are likely going to continue to see strength in advertised rents flowing through into paid rents in the CPI, given as we see old leases rolling over, rental arrangements being renegotiated,” Ms Creagh told Sky News Australia.

“Certainly tough conditions for renters, particularly in the major capital cities are remaining.”