Rents rise in capital cities

Residential rental figures remained high across most capital cities in June, according to new research released by Domain Group. The Domain Group Rental Market Report found house rents in Sydney rose 1.9% with Melbourne rents rising 2.6% year-on-year. Rents have risen in six capital cities, the exceptions being Perth and Darwin, which experienced falls of 4.4% and 7.7% respectively, with property supply is outstripping demand. High investor activity in Sydney and a surge in new dwelling construction have caused house rents to increase 3.9% over the year and unit rents by 1%. Domain says increasing rents are likely to continue in most capitals for the remainder of 2015

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