According to new research by CoreLogic, Sydney and Darwin investors rents decreased overall in the financial year ending 30 June 2019.
Further, gross rental yields for the last quarter decreased in Sydney and Canberra, while increasing everywhere else.
As a nation, on average, Australia recorded an increase of 0.3 per cent in rents over the second quarter of 2019, which is softer growth than the 1 per cent recorded in the previous quarter.
Capital cities drag
Capital cities rent grew by 0.1 per cent for the quarter and are down -0.1 per cent for the year.
Rents in all capital cities excluding Sydney and Darwin grew over the past 12 months, with Brisbane and Perth being the standouts.
Brisbane and Perth were the only two capital cities where the annual change in rents over the past 12 months were superior to those in the same period in 2018.
The average rent in Australia is now $438 per week, with rental rates across the combined capital cities being $466 a week.
Regional markets continue to grow
The growth is due to stronger regional numbers, with an increase of 0.7 per cent for the quarter for renters outside of the metropolitan.
Overall for the year, rental yields have increased by 1.9 per cent, beating the metropolitan regions by nearly a full per cent.
The overall growth in rental yields for the past 12 months remains positive for regional areas.
Renters outside of the cities now pay on average $380 a week.