Rents Increasing At Fastest Rate In 14 Years | Kanebridge News
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Rents Increasing At Fastest Rate In 14 Years

With regional areas outpacing the capital cities.

By Terry Christodoulou
Tue, Apr 27, 2021Grey Clock < 1 min

It’s not only homebuyers feeling the pocket pinch with rental rates surging by 3.2% nationally.

According to Corelogic’s Rental Review for the March 2021 quarter, the drivers of growth are diverse with the regions, Darwin and Perth collectively driving much of the increase.

Across combined regional markets, rents rose 4.1% in the first quarter of 2021 according to the report. Elsewhere rents in the combined capitals increased 2.9% by comparison.

Regional units recorded the highest quarterly rental growth of 4.8%, compared to the 2.0% rise in capital city units.

Further, capital city house rents were up 3.3% while regional houses rose by 4.0% during the period.

Darwin has shown the strongest growth in rental rates over the quarter, up 8.2% and 7.0% respectively.

Across the spectrum, Melbourne recorded the weakest growth in rents over the three months to March with house rents up 1.6%, while unit rents were unchanged over the quarter.

CoreLogic’s Research Director Tim Lawless, says “While housing rents are rising at the fastest pace since 2007, the headline reading hides the sheer diversity of rental conditions around the country. At one end of the spectrum we have Perth and Darwin where annual rental growth is well into double digits and accelerating. At the other end is Melbourne and Sydney where rents are down over the year.

“Although rents are generally rising, housing values have been rising at a faster rate which has seen rental yields compress across most of the capital cities. The exceptions are Perth and Darwin where rents have risen at a faster pace than housing values, driving a rise in yields. The opposite is true in Sydney and Melbourne where rental yields are plumbing new record lows,” added Mr Lawless.

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The waterfront residence is one of Port Stephens’ finest homes.

By Kanebridge News
Fri, Aug 12, 2022 2 min

In the coastal township of Salamander Bay — nearby to Port Stephens — comes a unique home crafted to take full advantage of unbroken ocean vistas across three levels.

With one-of-a-kind flair, the stunning 5-bedroom, 3-bathroom, 3-car garage home of 52 Randall Drive Salamander Bay is nestled on a private 577sqm plot, optimised through intelligent design to take advantage of the Port Stephens landscape and lifestyle.

Within the home sees the typically coastal textures of natural oak floor and timber feature walls take hold while stone and tiled adornments add layers of luxury.

The open plan living, kitchen and dining areas incorporate a fireplace and near floor-to-ceiling glass that opens to create a seamless indoor-to-outdoor dining and entertaining space on the home’s top floor.

The heart of this area is the kitchen, centred around a marble-topped island, state-of-the-art European appliances and an attached bar area, with built-in refrigeration, accompanied by a butler’s pantry.

Also here comes a grand outdoor spa, central to the balcony, while another outdoor entertaining area with a pizza oven is found on the middle floor.

Downstairs once again comes a second living space replete with the perfect wine cellar — cooled by the natural rock foundation of the home — offering an array of entertaining options

Of the home’s accommodation comes a private and luxurious master retreat with expansive ocean views, a walk-in wardrobe and an ensuite, here, speckled with grey terrazzo tiling and timber joinery vanities.  A further four bedrooms are found throughout the home along with two family bathrooms rounding out the offering.

Less than a five-minute walk from nearby amenities of shops, restaurants, cafes and beaches the home offers the best of the Port Stephens area.

The listing is with PRD Port Stephens’ Dane Queenan (+61 412 351 819) and Erin Sharp (+61 499 912 311) and is heading to auction; prd.com.au