Weekly rents across the Hunter Valley continued to rise over the June quarter, with new data showing the region is not immune to the affordability pressures being felt statewide.
According to the latest realestate.com.au Market Insight report, the median weekly rent in the Hunter Valley excluding Newcastle, which covers the Singleton, Muswellbrook and Upper Hunter local government areas, reached 630 dollars, up 5 per cent on a year ago.
House rents in the region held steady over the past three months but are still up more than 3 per cent annually, now averaging 650 dollars a week. Unit rents rose faster, climbing almost 2 per cent over the quarter and 6 per cent over the year, to reach 540 dollars a week.
The local trend mirrors a broader pattern across regional New South Wales, where the median advertised rent lifted 1.7 per cent over the June quarter to 610 dollars a week, a rise of 5.2 per cent compared to a year ago. Across the state, house rent growth outpaced units over the quarter, rising 3.2 per cent compared to 1.9 per cent for units.
Sydney remains the most expensive capital city to rent in, with the median rent hitting a new high of 800 dollars a week in June, up 2.6 per cent over the quarter and 6.7 per cent over the year.
