Home News The Australian suburbs where rents have increased most

In-depth: A state by state breakdown of the suburbs where rents have increased most

PropTrack revealed the Australian suburbs that have seen the biggest yearly jump in median rents.

First published on 22 Mar 2023

In-depth: A state by state breakdown of the suburbs where rents have increased most

Properties are seemingly not being built or released on the market anywhere near the rate of rental demand, driving vacancy rates across the nation to near record lows, and prices up.

Rate rises to mortgages may also have a flow-on effect to rents.

SQM Research has found average weekly rent in Australia went up more than 15% in 2022.

This week, PropTrack published the suburbs across the country that have seen the biggest annual increase to median rents (from February '22 to '23), which we've broken down state by state, with 160 suburbs or towns detailed.

New South Wales

House prices

Suburb	GCCSA	Current median weekly rent	$ change in median rental price
Clovelly	Greater Sydney	$1,995	$633
Rose Bay	Greater Sydney	$2,000	$600
Middle Cove	Greater Sydney	$1,700	$525
Riverview	Greater Sydney	$1,450	$400
Double Bay	Greater Sydney	$2,000	$400
Vaucluse	Greater Sydney	$2,995	$395
Balmain East	Greater Sydney	$1,400	$375
Curl Curl	Greater Sydney	$1,900	$375
North Turramurra	Greater Sydney	$1,250	$355
Queens Park	Greater Sydney	$1,650	$350

Unit prices

Suburb	GCCSA	Current median weekly rent	$ change in median rental price
Caringbah South	Greater Sydney	$980	$230
Eveleigh	Greater Sydney	$838	$208
Millers Point	Greater Sydney	$840	$180
Haymarket	Greater Sydney	$850	$170
South Granville	Greater Sydney	$443	$163
Soldiers Point	Rest of NSW	$550	$163
Glendale	Rest of NSW	$450	$150
Sylvania	Greater Sydney	$650	$150
Zetland	Greater Sydney	$780	$150
Brunswick Heads	Rest of NSW	$690	$140

NSW saw the biggest spikes to rental rates.

Seven of the top ten biggest increases to rents for both houses and units in the whole country were suburbs in Sydney, while Glendale and Soliders Point also made it onto the list for units.

Median rents in Clovelly and Rose Bay increased by over $600.

Victoria

House prices

Suburb	GCCSA	Current median weekly rent	$ change in median rental price
Black Rock	Greater Melbourne	$ 1,075	$180
Somers	Greater Melbourne	$650	$175
Sorrento	Greater Melbourne	$970	$171
St Kilda West	Greater Melbourne	$1,045	$170
Blairgowrie	Greater Melbourne	$698	$158
Caulfield	Greater Melbourne	$850	$150
Glen Huntly	Greater Melbourne	$780	$140
Echuca	Rest of Vic.	$550	$130
Ormond	Greater Melbourne	$750	$130
Bright	Rest of Vic.	$575	$125

Unit prices

Suburb	GCCSA	Current median weekly rent	$ change in median rental price
Melbourne	Greater Melbourne	$530	$150
Southbank	Greater Melbourne	$550	$130
West Melbourne	Greater Melbourne	$500	$120
McCrae	Greater Melbourne	$550	$120
Docklands	Greater Melbourne	$550	$110
Healesville	Greater Melbourne	$470	$105
Rye	Greater Melbourne	$490	$90
Wheelers Hill	Greater Melbourne	$520	$90
Torquay	Rest of Vic.	$550	$90
Dromana	Greater Melbourne	$505	$80

While vacancy rates in Victoria fell from 2.8% to 1.1% over the year according to SQM, Australia's second largest state did not see the dramatic price increases that NSW experienced.

The Victorian government outlawed rental bidding (where real estate agents encourage prospective tenants to bid over the asking price) in 2021, while the same measures weren't implemented in NSW until December 2022.

By no means is Victoria avoiding the rental crisis though, with several suburbs seeing large relative growth.

Median rental price for houses in Somers rose nearly 37%, for example, while units in Healesville are now 28% more expensive to rent.

Queensland

House prices

Suburb	GCCSA	Current median weekly rent	$ change in median rental price
Surfers Paradise	Rest of Qld	$1,475	$430
Paradise Point	Rest of Qld	$1,275	$425
Clear Island Waters	Rest of Qld	$1,400	$400
Miami	Rest of Qld	$1,100	$310
Sunshine Beach	Rest of Qld	$1,175	$275
Jacobs Well	Rest of Qld	$810	$235
New Farm	Greater Brisbane	$1,080	$230
North Maclean	Greater Brisbane	$680	$220
Tanawha	Rest of Qld	$1,050	$200
Mermaid Waters	Rest of Qld	$1,100	$200

Unit prices

Suburb	GCCSA	Current median weekly rent	$ change in median rental price
Banksia Beach	Greater Brisbane	$610	$160
Main Beach	Rest of Qld	$700	$150
Mermaid Beach	Rest of Qld	$700	$145
Elanora	Rest of Qld	$690	$140
Hollywell	Rest of Qld	$720	$140
Peregian Beach	Rest of Qld	$650	$130
Banyo	Greater Brisbane	$460	$119
Durack	Greater Brisbane	$505	$115
Merrimac	Rest of Qld	$610	$110
Broadbeach	Rest of Qld	$620	$110

Earlier this week, Queensland premier Annastascia Palaszczuk said the government would seriously consider introducing caps on rental rises to combat chronic housing shortages across the state.

This proposal came under heavy fire from many within the real estate industry, who say the move would see investors pull out of property, which would further limit the rental supply.

Tenants in Queensland though will likely be hoping for something to change, with several suburbs sneaking into the top ten for increases to median rents in Australia.

ACT

House prices

Suburb	GCCSA	Current median weekly rent	$ change in median rental price
Kingston	Australian Capital Territory	$1100	$250
Garran	Australian Capital Territory	$840	$140
Deakin	Australian Capital Territory	$950	$137.5
Pearce	Australian Capital Territory	$780	$130
Hawker	Australian Capital Territory	$685	$115
Turner	Australian Capital Territory	$882.5	$102.5
Theodore	Australian Capital Territory	$630	$100
Forrest	Australian Capital Territory	$1500	$100
Bruce	Australian Capital Territory	$745	$95
Hughes	Australian Capital Territory	$735	$85

Unit prices

Suburb	GCCSA	Current median weekly rent	$ change in median rental price
Moncrieff	Australian Capital Territory	$630	$95
Wanniassa	Australian Capital Territory	$530	$85
Jacka	Australian Capital Territory	$565	$85
Holder	Australian Capital Territory	$580	$82.5
Garran	Australian Capital Territory	$680	$80
Hawker	Australian Capital Territory	$470	$72.5
Ngunnawal	Australian Capital Territory	$555	$72.5
Holt	Australian Capital Territory	$520	$70
Pearce	Australian Capital Territory	$570	$70
Narrabundah	Australian Capital Territory	$590	$70

The ACT is the only state or territory to already have controls on rental increases in place.

Annual rent increases can only be up to 10% more than the quarterly inflation rate of rents in the ACT.

This likely explains why the ACT saw comparatively lower rental increases than other areas of Australia.

South Australia

House prices

Suburb	GCCSA	Current median weekly rent	$ change in median rental price
Glen Osmond	Greater Adelaide	$900	$270
Walkerville	Greater Adelaide	$790	$190
Glenelg East	Greater Adelaide	$650	$175
Stirling	Greater Adelaide	$680	$170
Hazelwood Park	Greater Adelaide	$770	$170
Medindie	Greater Adelaide	$1,045	$170
West Lakes Shore	Greater Adelaide	$700	$155
Malvern	Greater Adelaide	$838	$148
Kensington Gardens	Greater Adelaide	$690	$145
Glenunga	Greater Adelaide	$825	$145

Unit Prices

Suburb	GCCSA	Current median weekly rent	$ change in median rental price
Woodville West	Greater Adelaide	$425	$90
Westbourne Park	Greater Adelaide	$380	$80
Glenunga	Greater Adelaide	$420	$80
Seacliff	Greater Adelaide	$430	$80
St Morris	Greater Adelaide	$430	$80
Tonsley	Greater Adelaide	$363	$80
Henley Beach	Greater Adelaide	$425	$75
Campbelltown	Greater Adelaide	$425	$75
Renown Park	Greater Adelaide	$380	$73
Sefton Park	Greater Adelaide	$400	$70

Western Australia

House prices

Suburb	GCCSA	Current median weekly rent	$ change in median rental price
Salter Point	Greater Perth	$795	$220
East Perth	Greater Perth	$750	$200
Attadale	Greater Perth	$800	$200
North Coogee	Greater Perth	$1150	$200
Banjup	Greater Perth	$850	$187.5
Woodlands	Greater Perth	$737.5	$175
Coolbinia	Greater Perth	$720	$165
Busselton	Rest of WA	$600	$155
North Lake	Greater Perth	$620	$150
South Perth	Greater Perth	$750	$150

Unit prices

Suburb	GCCSA	Current median weekly rent	$ change in median rental price
North Fremantle	Greater Perth	$720	$120
Cable Beach	Rest of WA	$500	$100
South Hedland	Rest of WA	$600	$100
Dampier	Rest of WA	$515	$95
Cottesloe	Greater Perth	$595	$95
Parmelia	Greater Perth	$325	$90
Geographe	Rest of WA	$525	$90
Eaton	Rest of WA	$435	$87.5
Wannanup	Greater Perth	$550	$85
Port Hedland	Rest of WA	$600	$82.5

Tasmania

House prices

Suburb	GCCSA	Current median weekly rent	$ change in median rental price
Montello	Rest of Tas.	$405	$100
Hadspen	Rest of Tas.	$540	$100
Mount Stuart	Greater Hobart	$648	$98
Geilston Bay	Greater Hobart	$625	$95
Montrose	Greater Hobart	$590	$90
Battery Point	Greater Hobart	$700	$90
Legana	Rest of Tas.	$560	$88
Lauderdale	Greater Hobart	$620	$83
Sandy Bay	Greater Hobart	$700	$75
Longford	Rest of Tas.	$500	$70

Unit prices

Suburb	GCCSA	Current median weekly rent	$ change in median rental price
New Norfolk	Greater Hobart	$400	$100
Kingston Beach	Greater Hobart	$510	$80
Warrane	Greater Hobart	$530	$80
Newstead	Rest of Tas.	$410	$78
George Town	Rest of Tas.	$270	$70
Blackmans Bay	Greater Hobart	$520	$70
Newnham	Rest of Tas.	$368	$68
Bridgewater	Greater Hobart	$398	$68
Huonville	Rest of Tas.	$410	$60
Norwood	Rest of Tas.	$430	$60

Northern Territory

House prices

Suburb	GCCSA	Current median weekly rent	$ change in median rental price
Larrakeyah	Greater Darwin	$1100	$250
Coconut Grove	Greater Darwin	$755	$115
Wagaman	Greater Darwin	$635	$110
Stuart Park	Greater Darwin	$765	$85
Tiwi	Greater Darwin	$580	$80
Alawa	Greater Darwin	$595	$75
Millner	Greater Darwin	$600	$60
Rapid Creek	Greater Darwin	$687.5	$57.5
Woodroffe	Greater Darwin	$550	$50
Rosebery	Greater Darwin	$650	$50

Unit prices

Suburb	GCCSA	Current median weekly rent	$ change in median rental price
Nightcliff	Greater Darwin	$450	$70
Larrakeyah	Greater Darwin	$570	$70
Berrimah	Greater Darwin	$600	$70
Zuccoli	Greater Darwin	$600	$67.5
Rapid Creek	Greater Darwin	$475	$65
Parap	Greater Darwin	$530	$60
Stuart Park	Greater Darwin	$550	$60
Braitling	Rest of NT	$435	$50
Leanyer	Greater Darwin	$450	$50
Woolner	Greater Darwin	$550	$50

Picture by Belle Co on Pexels

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Harry O'Sullivan

Harry joined Savings in November 2022. With a degree in economics from the University of Queensland, Harry is interested in topics such as inflation and GDP, and is passionate about keeping Australians informed on the external factors that impact their personal finances.

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In-depth: A state by state breakdown of the suburbs where rents have increased most

New South Wales

House prices

Unit prices

Victoria

House prices

Unit prices

Queensland

House prices

Unit prices

ACT

House prices

Unit prices

South Australia

House prices

Unit Prices

Western Australia

House prices

Unit prices

Tasmania

House prices

Unit prices

Northern Territory

House prices

Unit prices

Ready, Set, Buy!

Harry O'Sullivan

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In-depth: A state by state breakdown of the suburbs where rents have increased most

New South Wales

House prices

Unit prices

Victoria

House prices

Unit prices

Queensland

House prices

Unit prices

ACT

House prices

Unit prices

South Australia

House prices

Unit Prices

Western Australia

House prices

Unit prices

Tasmania

House prices

Unit prices

Northern Territory

House prices

Unit prices

Ready, Set, Buy!

Harry O'Sullivan

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