Rents rose in the March quarter compared to the December quarter, but only moderately.

In most areas, rent for three-bedroom properties rose around $20.00 per week. Hobart City was on the higher end with an increase of $25.00. Only areas with very small populations like the Far South, Central North and the West Coast recorded bigger increases, however small data sizes means the data is less reliable.

The weighted median rent index grew slowly in comparison to the same time last year in the North, the North-West and the state, but is down 2.1 per cent in the South. The drop in the South last occurred during the 2020 Covid pandemic. In urban areas, rents for one-bedroom properties fell minus 8.3 per cent in Greater Launceston, minus 7.3 per cent on the North-West Coast and minus 3.3 per cent in Greater Hobart compared to the previous quarter. Rents for two- and three-bedroom properties are stable or increased moderately in all urban areas.

Find the full report here.

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