Alistair Walsh | 28 May 2012

Victorian rental listings increased 43% in past year, with Tasmania a close second: RP Data

Victoria narrowly pipped Tasmania and South Australia with the biggest percentage increase in properties newly listed for rent, according to RP Data. Victoria also has the highest number of listings of any state, with its 27,193 total listings some 8% higher than in May last year. Some 60% of Victoria's current rental listings are newly advertised. The 14, 553 fresh listings are well up on the same month last year, when there were 10,199 fresh listing.

For increases in new rental listings,Victoria was closely followed by Tasmania and South Australia, up 40% from 773 to 1,081 and 39% from 2,585 to 3,597 respectively.

Across Australia new rental listings for the month ending May 20 have increased 26% from 38,910 last year to 49,020.

Total listings Australia-wide were down 10% from 93,499 in May last year to 83,942 this May. New listings represent 58% of total listings in Australia.

Victoria, South Australia and Tasmania were the only states where total rental listings increased over the year.

For total listings the Northern Territory has experienced the biggest decline over the year. Total rental listings in the territory dropped 33% from 1,139 last year to 765 for the month ending May 20.

Total listings in WA decreased 21% over the year but new listings now represent 66% of total advertised properties.

"Total rental listings are now at their highest level in eight weeks," the report says.

"Although rental listings have risen, they are currently 10.2% lower than at the same time last year nationally and 6.2% lower across the combined capital cities.

"Across individual capital cities, rental listings are lower than at the same time last year in: Sydney (-8.5%), Brisbane(-23.3%), Perth (-22.7%), Darwin (-40.4%) and Canberra (-5.8%). On the other hand, rental listings are higher than a year ago in: Melbourne (7.7%), Adelaide (9.4%) and Hobart (19.2%)"