Hobart rental growth tops the nation with skyrocketing increases

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HOBART's rental growth was the highest of any capital over the first three months of the year, a report has revealed.

With growth of almost 6 percent, the period January to March was the strongest first quarter for Hobart since 2008.

The year was even higher with an 11.7 percent change in the rental price in the southernmost capital.

With good news for landlords, Shelter Tasmania warns that these results could be gloomy to ordinary Tasmanians. 19659003] CoreLogic's March 2018 quarterly rental review showed that media rent was highest in Sydney at $ 582.

Hobart was the sixth most expensive city with a median rent of $ 410 per. Week – an increase of 1.6 percent for the month.

In the previous quarter, Hobart's median rent was $ 387, which was an increase of 2.1% at that time. in December quarter.

As housing growth has exceeded rent, Hobart's yields have fallen slightly from 5.1 per cent. 12 months ago to 5 percent.

CoreLogic Research Director Cameron Kusher said that there were some factors that played into Hobart's stars' results.

"Many people will move to Hobart, and I suppose there has been a removal of existing rental housing in the short-term housing sector, which is a tendency we see across the country," he said. "There is a lot of demand for housing in the city, but not much to be built, resulting in an escalation of rental costs."

Pattie Chugg, Managing Director of Shelter Tasmania, said she was worried but not surprised at these housing data. 19659003] Ms Chugg said that Hobart rentals had increased by over 40 per cent. In the last 10 years, an increase that only constituted Sydney.

"These increases may be good for investors, but the benefits are not shared."

She said that the majority of tenants were low-income earners – more than a quarter of them experience camp stress.

Hobart's leases are below 1%.

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