Canberra may be well-known for its tough rental market, but the capital's price increases pale in comparison to surges recorded elsewhere in the country.
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While median weekly prices in the capital increased by little more than 3 per cent over the year, the cost of renting a unit in Queensland's Boyne Island doubled to $520.
The area south of Gladstone topped a list of 70 rental growth hotspots, compiled by Australian Property Investor.
Issued today, the list includes 21 areas where rental rates have increased by more than 40 per cent over the past year and features no suburbs in or around Canberra.
Units in the Sydney suburb of Frenchs Forest were second on the list after recording an increase of 85 per cent to $545, while apartments in the Brisbane suburb of Salisbury were boosted by 75 per cent to $360.
Closer to Canberra, median weekly rents for houses in the south coast town of Broulee increased by 37 per cent to $370, while the cost of renting a house in Exeter jumped by 32 per cent to $460.
The median weekly asking rent for houses in Canberra increased by 3.2 per cent over the past 12 months, according to rental data issued by Australian Property Monitors today.
Rents for units remained on par with rates recorded in September 2011, after a small rise and fall in median prices throughout the year.
With weekly asking prices for houses and units recorded at $485 and $430 respectively, Canberra is the third most expensive of the capital cities to rent in, behind Darwin and Sydney.
Australian Property Monitors senior economist Andrew Wilson said the price drops in the capital could be attributed to "increased buyer activity providing less competition for rental properties".
