Has the rental market gotten better?

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.