Economy

Property investors take note – here are 53 suburbs where rent rises are beating inflation

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Fairfield, six kilometres north east of the Melbourne CBD, topped the list of suburbs to record inflation-busting rental growth for the year to January 2012 with rents rising 13.4% according to property manager Run Property.

In total 28 Sydney suburbs, 23 Melbourne suburbs and two Brisbane suburbs recorded rent rises above inflation (4.8%) over the 12 month period.

The list only includes those suburbs where RUN has sufficient data to give an indication of rental movement.

The rental component within the CPI recorded a 4.8% increase during the 2011 calendar year, according to the Australian Bureau of Statistics.

The full list is:

New South Wales

Suburb

Jan 2011 weekly rent average  

Jan 2012 weekly rent average 

Average weekly rent difference in dollars 

 

Percentage average weekly rent difference 

 

EDGECLIFF

$389.26

$438.28

$49.02

12.6%

CREMORNE

$469.92

$524.97

$55.04

11.7%

SURRY HILLS

$495.16

$551.96

$56.79

11.5%

BELLEVUE HILL

$434.99

$479.98

$45.00

10.3%

COOGEE

$588.83

$649.57

$60.73

10.3%

RANDWICK

$555.48

$611.05

$55.58

10.0%

RYDE

$346.19

$380.41

$34.22

9.9%

NEUTRAL BAY

$446.15

$489.46

$43.31

9.7%

BONDI

$552.38

$601.14

$48.76

8.8%

RUSHCUTTERS BAY

$584.35

$635.47

$51.11

8.7%

LANE COVE

$408.76

$444.38

$35.62

8.7%

BRONTE

$499.04

$541.44

$42.40

8.5%

ROSE BAY

$466.21

$504.98

$38.77

8.3%

NEWTOWN

$532.41

$576.16

$43.75

8.2%

GLEBE

$492.92

$531.67

$38.75

7.9%

WOOLLOOMOOLOO

$503.66

$542.57

$38.91

7.7%

CHIPPENDALE

$592.24

$636.35

$44.11

7.4%

DARLINGHURST

$512.71

$550.51

$37.80

7.4%

PYRMONT

$612.42

$655.61

$43.18

7.1%

Victoria

 

Suburb

Jan 2011 weekly rent average 

Jan 2012 weekly rent average 

Average weekly rent difference in dollars 

Percentage average weekly rent difference 

 

FAIRFIELD

$292.89

$332.11

$39.22

13.4%

EAST MELBOURNE

$376.26

$414.26

$38.00

10.1%

FITZROY

$337.27

$368.94

$31.67

9.4%

RICHMOND

$343.74

$375.94

$32.20

9.4%

ARMADALE

$328.95

$358.33

$29.38

8.9%

PRAHRAN

$359.29

$390.25

$30.96

8.6%

FITZROY NORTH

$410.92

$445.60

$34.68

8.4%

SOUTH YARRA

$361.03

$390.72

$29.69

8.2%

HAWTHORN

$344.52

$371.02

$26.50

7.7%

NORTHCOTE

$412.05

$443.64

$31.59

7.7%

CARLTON NORTH

$399.47

$429.61

$30.14

7.5%

KENSINGTON

$365.27

$392.48

$27.21

7.4%

ST KILDA EAST

$366.57

$391.50

$24.93

6.8%

MALVERN EAST

$377.66

$402.50

$24.84

6.6%

BRUNSWICK

$362.21

$385.75

$23.54

6.5%

MALVERN

$391.60

$415.64

$24.04

6.1%

CLIFTON HILL

$391.11

$414.99

$23.88

6.1%

ESSENDON

$299.75

$317.63

$17.88

6.0%

BRUNSWICK WEST

$263.60

$278.85

$15.25

5.8%

MOONEE PONDS

$308.91

$326.57

$17.65

5.7%

GLEN IRIS

$378.82

$399.69

$20.87

5.5%

Queensland

 

Suburb 

Jan 2011 weekly rent average 

Jan 2012 weekly rent average 

Average weekly rent difference in dollars 

Percentage average weekly rent difference 

 

 

NUNDAH

$290.57

$310.50

$19.93

6.9%

AUCHENFLOWER

$324.71

$341.18

$16.47

5.1%

This article first appeared on Property Observer.

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