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O'Malley rentals fifth-highest in nation

O'Malley has been listed as the fifth-most expensive suburb in which to rent a house in the country.

O'Malley has been listed as the fifth-most expensive suburb in which to rent a house in the country. Photo: Supplied

O'Malley has been listed as the fifth-most-expensive suburb in which to rent a house in the country.

The embassy-heavy area has recorded a median weekly advertised rent of $1800 for this year.

End-of-year figures from RP Data show O'Malley had a higher advertised rent than any other ACT suburb by almost $1000.

Leafy Forrest was ranked second on the Canberra-specific list with a rent of $850. Red Hill followed with a rent of $790.

The highest median advertised rent in the country was in Newman, in Western Australia's East Pilbara region, at $2165

Forrest topped the list of ACT suburbs for rental units, recording a median weekly rent of $590, followed by Ainslie with $585 and Forde with $555.

Click or touch on the icons on the map to see the median level of rent in that suburb.

Homes being advertised for rent in O'Malley include a palatial property at 8 Pindari Crescent with seven bedrooms, a formal entrance, a spa bath and a bar.

Or there's 33 Culgoa Circuit, a six-bedroom, five-bathroom executive home with an enormous spa and sauna and two kitchens.

Both are available for a weekly rent of at least $2000.

At the other end of the scale Charnwood was the most affordable suburb in which to rent a house with the advertised rates of $408 being less than a quarter of the O'Malley figure.

Belconnen's Scullin ($430) and Page ($435) were the second- and third-cheapest suburbs in which to rent houses.

Hughes, the most affordable ACT suburb in which to rent a unit, has a median asking weekly rent just $315. Next comes Curtin at $330 and Downer at $335.

According to the RP Data findings, Canberra is the second-most-expensive capital in Australia, behind Darwin.

It costs at least $100 more to rent a house in the ACT's cheapest suburb of Charnwood than in the most affordable suburb of any other city.

Darwin's cheapest median rent of $500 was for the suburb of Moulden.

Charnwood has also been listed as the suburb with the highest indicative gross rental yield - calculated by dividing the yearly median rental rate by the current median selling price.

The figure shows the indicative total amount of rental return for the year.

The suburb recorded a gross rental yield of 5.7 per cent with a median sale price of $375,000 and a median rent of $408.

RP Data's report showed that Canberra's suburbs, along with those of Melbourne, recorded the lowest indicative gross rental yield figures of the nation's capitals.

1 comment

  • And this is somehow ?good news?

    Commenter
    confused?
    Date and time
    December 27, 2013, 10:48AM
    Comments are now closed
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