Powered by MOMENTUM MEDIA

Most expensive (and affordable) suburbs to rent in across Australia’s capital cities

By Zarah Mae Torrazo 05 November 2021 | 1 minute read

New data has revealed the suburbs where landlords are commanding the priciest and the cheapest rents in each capital city. 

expensive suburbs

CoreLogic’s latest Quarterly Rental Review listed the most expensive, as well as the most affordable suburbs to rent houses and units in different capital cities. 

The report also showed that weekly rent in the country has gone up by 8.9 per cent – the highest annual growth since 2008.

Around the country, Canberra is still the most expensive city in the country to rent a property.  According to CoreLogic data, renting in the ACT will set you back an average of $633 a week, significantly higher than the national median rent of $485 per week.

Sydney was the second most expensive city at $595 per week, followed by Darwin, where a rental property will set you back $561 a week, Hobart at $507 per week and Brisbane at $491 a week.

Advertisement
Advertisement

Melbourne is the second-cheapest rental market, with a typical dwelling setting back a renter by $450 a week.

The title of the most affordable capital city to rent goes to Adelaide, as rentals in the city sit at an average of $440 per week.

CoreLogic research director Tim Lawless said he expected national rent prices to continue to rise for the foreseeable future.

The expert noted that with only incremental gains in household incomes in recent times, rental affordability in Australia would likely become an issue.

“Data to March shows renters were spending an average of 28.7 per cent of their household income on rental payments, which is slightly above the decade average of 28.1 per cent,” Mr Lawless said.

“Rental affordability has deteriorated further from there, which is likely to see more renters looking towards higher density rental options where renting tends to be more affordable.”

For now, what suburbs are the most expensive and affordable places to rent houses and units in each capital city? 

Houses

Most expensive and affordable places to rent houses across capital cities

Sydney 

Most expensive: Vaucluse  ($2,235 median rent) 

Most affordable: Blackett ($392 median rent) 

Melbourne

Most expensive: BrightonBrighton, SA Brighton, VIC Brighton, TAS Brighton, QLD  ($1,226 median rent) 

Most affordable: Melton ($341 median rent) 

Brisbane 

Most expensive: Pullenvale ($986 median rent)

Most affordable: Toogoolawah ($331 median rent)

Adelaide

Most expensive: Beaumont ($731 median rent)

Most affordable: Elizabeth North ($306 median rent)

PerthPerth, TAS Perth, WA

Most expensive: Cottesloe ($1,118 median rent)

Most affordable: Medina ($367 median rent)

Hobart

Most expensive: Sandy Bay ($643 median rent)

Most affordable: Primrose Sands ($429 median rent)

Darwin 

Most expensive: Fannie Bay ($786 median rent)

Most affordable: Moulden $501 median rent) 

Canberra 

Most expensive: Campbell ($952 median rent)

Most affordable: Charnwood ($589 median rent) 

 

Units

Most expensive and affordable places to rent units across capital cities

Sydney 

Most expensive: Point Piper ($1,081 median rent) 

Most affordable: CarramarCarramar, WA Carramar, NSW ($329 median rent) 

Melbourne

Most expensive: Beaumaris ($655 median rent) 

Most affordable: AlbionAlbion, QLD Albion, VIC Albion, QLD ($311 median rent) 

Brisbane 

Most expensive: Teneriffe ($561 median rent)

Most affordable: Raceview ($276 median rent)

Adelaide

Most expensive: Adelaide ($457 median rent)

Most affordable: SalisburySalisbury, SA Salisbury, QLD ($301 median rent)

Perth

Most expensive: North Fremantle ($666 median rent)

Most affordable: Orelia ($242 median rent)

Hobart

Most expensive: Sandy Bay ($486 median rent)

Most affordable: Brighton ($398 median rent)

Darwin 

Most expensive: BayviewBayview, NSW Bayview, NT ($603 median rent)

Most affordable: Leanyer $407 median rent) 

Canberra 

Most expensive: Yarralumia ($816 median rent)

Most affordable: Curtin ($442 median rent) 

 

RELATED TERMS

Capital

Capital refers to the financial resources that are available to be used for income generation.

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



Most expensive (and affordable) suburbs to rent in across Australia’s capital cities
expensive suburbs
spi logo

Get the latest news & updates

Join a community of over 100,000 property investors.

Check this box to receive podcast updates

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.