Posted October 06, 2018 09:30:23 Housing affordability across South Australia has surged to a new high, with the average monthly rent increasing by almost $1,000 in the past year, according to a housing affordability study released on Tuesday.
The South Australian Bureau of Statistics (SAS) report found the average rent for an apartment in the city of Perth rose from $2,845 in September 2018 to $2 and $2.20 a month in October.
“This was the second increase in a year for the average rental, which was $1.9 per month in September,” said the ABS report.
“The average rent in the inner suburbs of Perth has increased by nearly $200 per month, but has stayed close to the average since July.”
In Adelaide, where rents have not increased since March, the average increase was $2 a month, while in the Adelaide Hills, where the average rose by $1 per month to $1 and $1 a month.
The average increase in the North West was $5 per month.
While Perth has seen a surge in the number of people renting apartments, it was not the only city to see a big rise in rent.
Melbourne saw a sharp rise in rents to more than $1 million, while Sydney had an increase of $1 to $3,000, according the ABS.
It said the average rents for a home in South Africa were up by just over $100, a year on the year.
The study found the median rent for a house in the northern city of Cape Town was $3.90 per month and $3 in the eastern city of Johannesburg was $4.10.
The report also found that more people were renting in Perth than in most other cities in Australia.
The ABS said there were almost 13,000 more people renting in the state than in other states and territories.
In a statement the ABS said its latest survey of renters and property owners across the country showed rents had fallen “substantially” since the year before.
“It’s important to recognise that in a relatively new economy, this decline in rents is due in part to higher affordability in the economy as a whole,” it said.
“However, it’s also important to remember that this decrease in rent is also the result of an ongoing decline in demand for rental housing, especially in inner-city suburbs.”