Rent prices are starting to fall slowly in some areas across Australia, according to the Australian Financial Review.
1. Northern Beaches, NSW
Sydney’s Northern Beaches saw the biggest drop in rental prices, dropping by 3.5 per cent monthly and 7.8 per cent quarterly.
2. Gold Coast, Queensland
On Queensland’s Gold Coast, rental prices have dropped by 2.4 per cent monthly, and 5.6 per cent quarterly.
3. Eastern Suburbs, NSW
In the pricey Eastern suburbs of Sydney, rents have dropped by 1.9 per cent weekly and 5.3 per cent quarterly.
4. Inner West, NSW
In Sydney’s trendy Inner West, rents have fallen by 2.6 per cent monthly and 5 per cent quarterly.
Rental property costs $788 on average.
5. Sydney CBD, NSW
Rents in Sydney’s CBD have dropped by 1.6 per cent monthly and 4.8 per cent quarterly.
Weekly costs will still set renters back $1152 on average.
6. Inner East Melbourne, VIC
Rents in Melbourne’s Inner East have dropped by 1.9 per cent monthly and 2.8 per cent quarterly.
The average rent will still set you back $683 weekly.
