Australian Property News

Darwin sees highest rent rise for 2010

Posted on Friday, January 28 2011 at 7:05 AM

Sydney and Darwin recorded the highest rent increases for the nation in 2010, while inflation rose by 2.7 per cent, according to the Australian Bureau of Statistics (ABS).

The ABS reported that Darwin raced ahead of the nation in 2010 with a six per cent rent rise, while Sydney followed closely behind at five per cent, then came Canberra (4.8 per cent) and Adelaide (4.4 per cent).

Dropping below the national average rent increase of 4.2 per cent for 2010 was Melbourne (3.8 per cent), Hobart (3.6 per cent), Perth (3.3 per cent) and Brisbane (2.9 per cent).

Urban Taskforce chief executive Aaron Gadiel said the sharp rent increases are a classic sign of housing shortages.

"It's clear that the greatest disconnect between the needs of households and the supply of homes is in Sydney, Darwin and Canberra," he said.

Gadiel said it wasn't surprising that Sydney saw the strongest rent increases, "because New South Wales is widely regarded as having the worst planning system across the nation".

He said the planning system's sweeping prohibitions and restrictions coupled with its inefficient infrastructure charges have crippled Australia's housing supply.