Most expensive and most affordable rental suburbs in Australia’s capital cities

By Noemi Pamintuan-Jara 07 April 2022 | 1 minute read

New data has identified the suburbs in each capital city where investors are achieving the highest and lowest rental rates.

CoreLogic’s Quarterly Rental Review for Rental Q1 2022 revealed the most expensive and cheapest suburbs to rent houses and units in Australia’s capital cities.

The report also noted that national unit rents climbed at a quicker rate than national house rents, at 3 per cent and 2.4 per cent, respectively, breaking the trend seen since May 2019, with both sectors recording an increase in the pace of quarterly rental growth.

However, on an annual basis, houses (9 per cent) continue to beat units (8 per cent) despite the recent increase in unit rents.

Looking at the capital cities, Canberra remains as the most expensive capital city rental market. According to CoreLogic data, renting in the ACT costs $674 a week, on average – significantly higher than the national median rent of $509 per week. 

Sydney was the second-most expensive city at $621 per week, followed by Darwin, where a rental property costs $559 a week, Hobart at $532 a week, Brisbane at $523 per week, and PerthPerth, TAS Perth, WA at $496 a week.

Melbourne was tagged as the second-cheapest rental market, with a typical dwelling costing renters $468 a week, on average.

Adelaide has the accolade of being the most affordable capital city to rent in, with weekly rates averaging $464.

“Eased international travel restrictions are likely to be a catalyst for continued growth in the rental market, as overseas arrivals such as international students and long term migrants are typically renters when they first come to Australia,” CoreLogic head of research Eliza Owen said.

Here are the most expensive and affordable places to rent houses and units in each capital city:

Sydney

Most expensive - house: Vaucluse ($2,394 median rent)

Most expensive - unit: Point Piper ($1,096 median rent)

Most affordable - house: Tregear ($412 median rent)

Most affordable - unit: Cabramatta ($342 median rent)

Melbourne

Most expensive - house: BrightonBrighton, SA Brighton, VIC Brighton, TAS Brighton, QLD ($1,281 median rent)

Most expensive - unit: Brighton East ($629 median rent)

Most affordable - house: Melton ($356 median rent)

Most affordable - unit: Melton South ($305 median rent)

Brisbane

Most expensive - house: AscotAscot, QLD Ascot, QLD Ascot, WA Ascot, VIC Ascot, VIC ($1,055 median rent)

Most expensive - unit: Kenmore ($601 median rent)

Most affordable - house: Toogoolawah ($332 median rent)

Most affordable - unit: Logan Central ($294 median rent)

Adelaide

Most expensive - house: Glenelg South ($784 median rent)

Most expensive - unit: Kent Town ($482 median rent)

Most affordable - house: Elizabeth North ($326 median rent)

Most affordable - unit: SalisburySalisbury, SA Salisbury, QLD ($289 median rent)

Perth

Most expensive - house: Dalkeith ($1,200 median rent)

Most expensive - unit: North Fremantle ($644 median rent)

Most affordable - house: Midvale ($371 median rent)

Most affordable - unit: Orelia ($268 median rent)

Hobart

Most expensive - house: Sandy Bay ($722 median rent)

Most expensive - unit: ClaremontClaremont, TAS Claremont, WA ($466 median rent)

Most affordable - house: Primrose Sands ($446 median rent)

Most affordable - unit: Brighton East ($406 median rent)

Darwin

Most expensive - house: Stuart Park ($774 median rent)

Most expensive - unit: BayviewBayview, NSW Bayview, NT ($605 median rent)

Most affordable - house: Moulden ($497 median rent)

Most affordable - unit: Bakewell ($410 median rent)

Canberra

Most expensive - house: Campbell ($978 median rent)

Most expensive - unit: Forrest ($695 median rent)

Most affordable - house: Charnwood ($617 median rent)

Most affordable - unit: Hawker ($496 median rent)

RELATED TERMS

Property

Property refers to either a tangible or intangible item that an individual or business has legal rights or ownership of, such as houses, cars, stocks or bond certificates.

Rent

Rent refers to the payment made by a tenant periodically to a landlord for the use and occupancy of a property.

Rent

Rent refers to the payment made by a tenant periodically to a landlord for the use and occupancy of a property.

About the author

Noemi Pamintuan-jara

Noemi Pamintuan-jara

Noemi is a journalist for Smart Property Investment and Real Estate Business. She has extensive experience writing for business, health, and education industries. Noemi is a contributing author of an abstract published by the American Public Health Association, and Best Practices in Emergency Pedagogical Methods in Germany. She shares ownership of the copyright of an instructional video for pharmacists when communicating with deaf patients. She attended De La Salle University where she obtained a double degree in Psychology and Marketing... Read more



Most expensive and most affordable rental suburbs in Australia’s capital cities
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