The Australian rental market has risen at the fastest pace since May 2007, with the national rental rate up 3.2 percent over the first quarter of this year, property researcher CoreLogic found. However, Corelogic’s research director Tim Lawless said the growth was uneven, and the “headline reading hides the sheer diversity” of market conditions around the country. Combined capital city rents were up 2.9 percent during the March quarter while regional rents grew 4.1 percent. Regional unit rent surged 4.8 percent compared to the 2 percent in capital cities. Regional house rents were also higher than house rents in the capital city. Darwin and Perth are driving a lot of the growth, with rents increasing 8.2 percent and 7 percent, respectively. “At one end of the spectrum, we have Perth and Darwin where annual rental growth is well into double digits and accelerating,” Lawless said. “At the other end is …
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