Canberra’s rental prices increased slightly over the quarter, yet remain unchanged since March 2023, according to the PropTrack Market Insight Report.

The report found that the median advertised rental price in Canberra was $620 in the March 2024 quarter, which was unchanged compared to a year ago. However, house rents in the nation’s capital rose across the last quarter to sit behind Sydney as the second most expensive capital city in Australia.

Key findings from the report:

• Median advertised rents in Canberra rose 1.6% over the March quarter to $620 per week.
• However, compared to the March quarter 2023, rents in Canberra were unchanged, providing some reprieve from the strong rent growth recorded since the pandemic.
• House rents in Canberra rose 2.9% across the quarter to sit at $700 per week – the second most expensive house rental price in the country, behind Sydney.
• Unit rents in Canberra were up 1.8% over the March quarter and also up 1.8% over the past year to sit at $570 per week.