Rents stabilising, but properties staying vacant longer

allhomes

ALLHOMES have announced the findings of their latest rental survey.

“Median weekly rent for the ACT and Queanbeyan region fell yearly -4.7% and monthly remained relatively steady, falling -0.6%, to $410 a week,” they said.

“ACT and Queanbeyan recorded relatively flat median weekly rents for both houses and units during April 2014, a trend seen throughout the first quarter of 2014.”

At the same time the length of time a rental property remains on the market is gradually increasing, on average taking 40.4 days to rent a property during April 2014, 12% longer than 12 months previous.

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