Rents falling: changes in each Aussie suburb revealed

Tenants in many capital city areas are finally breathing a sigh of relief, with average weekly rents dropping by over $50 a week in many suburbs.

Embattled tenants have finally been delivered some relief following a more than $50 a week drop in rents across many parts of Australia’s capital cities.

The rental falls have followed a shift in tenant demand as many renters capitalise on lower interest rates and become first-home buyers.

There has also been a considerable tenant shift into house shares, which has further thinned competition for rental homes at a time when supply has gradually improved.

Experts noted that investor activity has been picking up in recent months and this has meant more rentals trickling onto the market, especially in some highly competitive inner suburbs.

Soaring rents remained a reality for many areas and the rental crisis was expected to continue for some time, but many property observers have taken recent shifts as a sign the worst of the crisis may be behind us.

You can search your suburb below to see how much rents have changed over the past year, both in percentage terms and dollar value changes.

.

Originally published as Rents falling: changes in each Aussie suburb revealed