Canberra was the only capital city where the median house rental prices fell in the March quarter, and renting a unit is only slightly more expensive than a year ago, according to new data.
Australian Property Monitors' latest quarterly survey shows Canberra's median house rent dropped 2.4 per cent, or $10, in the first three months of the year, to $410 per week.
The figures issued yesterday showed no change in median rentals for most other capitals and major centres in the March quarter, with the Sydney and Perth markets slowing after rises in mid-to-late 2008.
Canberra's median rent for units is now $400, up 1.3 per cent compared to the December quarter.
Median unit rentals are second in the country, just $10 short of Sydney prices, and median house rents slipped to fourth behind Darwin, Sydney and the Gold Coast.
The data shows the median house rent was $390 in June 2007, which indicates the market has been more stable for nearly two years compared to other cities that have experienced double-digit rises and a sharp decline in growth.
Canberra was the only capital city to go backwards in the March quarter, which Australian Property Monitors senior economist Matthew Bell said was a surprising result.
''It's only a $10 drop, it's the smallest drop you can have [in the statistics],'' he said.
For more, pick up a copy of today's Canberra Times
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