Australia's Rental Market Hits Record Low Vacancies and Rising Prices
Australia news live: rental vacancies at record low in most big cities and prices rising
The Guardian
Image: The Guardian
Australia's rental market is experiencing unprecedented tightness, with a national vacancy rate of just 0.7%. Median rents have risen to $680 per week for houses and $675 for units, reflecting a $25 increase in typical advertised rent prices. Despite the rising costs, rent growth is stabilizing as households struggle to afford higher prices.
- 01National vacancy rate is at a record low of 0.7%.
- 02Median rent for houses is now $680 per week.
- 03Vacancy rates are particularly low in Sydney (0.6%) and Perth (0.3%).
- 04Rent prices increased by $25 per week on average.
- 05Despite low vacancies, rent growth is stabilizing due to affordability issues.
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Australia's rental market is currently facing significant challenges, with a national vacancy rate at a record low of 0.7%. According to figures from Domain, median rents have climbed to $680 per week for houses and $675 for units, reflecting a $25 increase in the typical advertised rent price. The tight rental market is particularly evident in cities like Sydney, where the vacancy rate stands at 0.6%, and Perth, at 0.3%. Although rent prices have been rising, the growth rate has slowed down as many households struggle to afford the increased costs. Dr. Nicola Powell, Domain's chief residential economist, notes that while the supply of rental properties is incredibly tight, the rate of rent growth is no longer accelerating everywhere, indicating that households are reaching their financial limits. In the first quarter of 2026, Realestate.com.au reported a $30 increase in median advertised rents, further emphasizing the ongoing pressures in the rental market.
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The tight rental market is making it increasingly difficult for renters to find affordable housing, leading to financial strain for many households.
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