Several rental markets across Australia have significantly become in favour of tenants over the past year as vacancy rates increased.

A new study from RentRabbit.com.au showed 20 suburbs where rental market conditions have made a 180-degree turn, becoming tenant-friendly as supply outpaces demand.

Ten of the suburbs that witnessed a dramatic rise in vacancy rates were in Victoria, seven were in New South Wales, and three in ACT. 

Meanwhile, house rental markets dominated the list with 13 suburbs.























State

Suburb

Property type

Vacancy rate (%)

Median Weekly Rent ($)

12 months ago

Current

12 months ago

Current

VIC

Derrimut

House

1.2

10.3

400

350

VIC

Mount Duneed

House

2.4

7.1

420

420

NSW

West Pymble

House

1.8

5.5

870

850

ACT

Campbell

Unit

4.9

8.5

550

550

ACT

Hughes

House

0.8

4.1

680

650

NSW

Girraween

Unit

1.7

4.0

450

450

NSW

Heckenberg

House

0.0

2.0

400

380

VIC

Coolaroo

House

3.0

5.0

350

350

NSW

Pendle Hill

House

2.6

4.5

470

450

NSW

Cabramatta West

House

2.1

3.9

450

450

VIC

Dingley Village

Unit

0.9

2.6

460

450

NSW

Berala

Unit

2.2

3.7

345

320

ACT

McKellar

House

1.5

3.0

620

610

NSW

Emu Plains

Unit

1.1

2.6

420

420

VIC

Bannockburn

House

1.5

2.9

430

430

VIC

Notting Hill

Unit

2.0

3.2

365

350

VIC

Campbellfield

House

1.9

3.1

400

380

VIC

Kingsville

House

1.4

2.6

530

520

VIC

Oak Park

Unit

2.7

3.7

410

390

VIC

Ivanhoe East

House

2.1

3.1

670

650

RentRabbit.com.au co-founder Ben Pretty said Australia’s rental markets run on a “two-tier” nature.

“The results highlight that renters are able to find tenant-friendly suburbs in Melbourne, Sydney and Canberra, but are really struggling to find suitable locations in Brisbane, Perth, Adelaide, Hobart and Darwin,” he said.

Mr Pretty said the changes in vacancy and median rent was due to the shift in supply-demand dynamics.

“Where supply is relatively low and demand relatively high, it’s hard for tenants to find accommodation, which leads to falling vacancy rates and rising rents,” he said.

“For the sake of families and people on average incomes, I’d like to see a more balanced rental market.

“For that to happen, supply needs to increase, which means we need more investors to enter the market and more new builds to come online.”

Photo by @ketut-subiyanto on Pexels


Top Suburbs :


ferntree gully


,

marrickville


,

coburg north


,

alexandria


,

cardiff south


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