11 September 2011

Has the rental market gotten better?

| junketFunket
Join the conversation

So in a few months, I think I will need to be looking for another rental property to live in. I’ve lived in the same place for the past few years and unfortunately the owners want to move back in.

It was really cut throat trying to secure a rental property last time. I was wondering, is this still the case? I hear that the property prices have kind of plateau-ed whilst there’s also tons and tons of new building developments – molongo, all the new gungalin suburbs, various new apartment blocks are around Civic etc.

I also see on allhomes, there seems to be about 30-40 new places up for rent every day, which seems to be quite a lot. On the other hand, I see that prices have risen considerably…

So before I start looking, was wondering is there anyone that has rented a place lately (both owner or landlord) that would like to share their experiences? Has all the new houses made it a bit easier to rent somewhere now? Should I still be offering a bit more to the agent in order to secure the place?

Join the conversation

All Comments
  • All Comments
  • Website Comments

We just had a change of tenant in our investment property (one beddy flat in Inner North). The real estate agent was trying to get us to jack up the rent again but we decided to keep it reasonable and try to find a decent longer term tenant. It was on the market for about 3 weeks or so (which is longer than previous advertising periods) and didn’t have as much interest (about 4-5 groups through at each showing). Apart from being winter so the market is slower at this time of the year, I suspect that’s also to do with the fact there’s more small apartments/units options in Canberra now.

Hope you find somewhere soon that you can call home.

A place that was advertised fpr $540 two and a half years ago that I went for when I was last looking for a place is being advertised currently for $620. That’s 15%

In our time here, the rent has only increased once by $20. I guess long term tenancies tend to pay off as the landlord isn’t going make artificial increases to cover the cost of having it untenanted for a week or two.

JF if you wish to save money while renting, I would advise finding accommodation in QBN (not far from the city either) – McNamee’s are generally less expensive than Canberra real estates.

This way it will give you an opportunity to save a couple of hundred dollars per week to sit aside for a townhouse or home deposit.

Daily Digest

Want the best Canberra news delivered daily? Every day we package the most popular Riotact stories and send them straight to your inbox. Sign-up now for trusted local news that will never be behind a paywall.

By submitting your email address you are agreeing to Region Group's terms and conditions and privacy policy.