ACT News

$1000 a week gets you best digs on offer

Canberra's rental market has a lot to offer - but it will cost you more than $1000 a week.

Anglicare Australia's Rental Affordability Snapshot issued yesterday found there was ''virtually no affordable housing'' available for low-income earners in the capital, with the nearest listed property for single parents on the minimum wage located an hour away in Goulburn.

Exclusivity ... Luton senior property manager Tamara Davis in a Red Hill property which would set someone back $2500 a ...
Exclusivity ... Luton senior property manager Tamara Davis in a Red Hill property which would set someone back $2500 a week to rent. Photo: Melissa Adams

While competition is tough at the lower end of the market, choice is increasing for Canberrans who can afford to spend more.

Luton Properties Manuka senior property manager Tamara Davis said in the past few years there had been an increase in the number and range of top-end rentals in the capital.

''There are over 30 properties over $1000 a week just in the inner south right now,'' she said. ''That's quite a large number, usually you only see three or four for each suburb.''

Ms Davis said an increasing number of high-end properties would be coming on to the rental market in the coming weeks, joining current listings ranging up to $4000 a week for a four-bedroom house.

''This time of year and December through to February is when a lot of companies, embassies and even right down to families are looking,'' she said.

''Once you hit the $800, $900 and start getting to the $1000 plus, it's all by appointment with a bit more exclusivity I guess.''

The luxury Red Hill property also boasts a swimming pool.
The luxury Red Hill property also boasts a swimming pool. Photo: Melissa Adams

But Ms Davis said it's getting tough at the top as international financial concerns affected budgets for Canberra's big spenders.

''We've found embassies aren't spending as much as what they've been known to in previous years, because things are tough worldwide,'' she said. ''Some embassies used to spend $1500 a week, now they're only spending $1000.''

Property rental prices.
Property rental prices. 

Andrew Chamberlain, of Peter Blackshaw Manuka, said like sales, the top tier of the rental market was the weakest but was unaffected by the current political uncertainty concerning public servants and politicians.

''Parliamentarians are only in Canberra for a relatively short period of time,'' he said.

''If they do rent, it's often very modest.''

twitter This reporter is on Twitter: @stephanieando

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