Residential rental prices falling in Australian capital cities

Weekly rents increased by a mere 0.2% in Australian capital cities in March but overall they are down 0.2% year on year, the latest rental index shows. In the last 12 months Melbourne recorded the biggest increase in rental rates at 2%, followed by Sydney at 1.4%, Canberra at 1.2% and Hobart at 0.3%. Rents fell by 11.5% in Darwin, by 8.4% in Perth, by 1% in Adelaide and by 0.7% in Brisbane. The March Rental Review from CoreLogic RP Data analysts also shows that house rents averaged $489 per week...