In good news for property investors, national rents have hit a new record high, passing $600 per week.
According to CoreLogic, rents are up 8.1 per cent nationally to $601 per week over the past 12 months.
Rents have increased the most in Perth, up 13.4 per cent over the past 12 months, followed by Melbourne at 11.1 per cent, Sydney at 10.2 per cent, Brisbane at 8.2 per cent and Adelaide at 7.7 per cent.
Median rents across the capital city markets ranged from $745 per week in Sydney, to $535 per week in Hobart.
Canberra and Hobart were the only markets to see a decline in rent values through 2023, falling -1.9 per cent and -3.5 per cent.
