Rent Has Hit an All-Time High, Here’s How Much It’s Gone up in Your City

It’s no secret that rent is absolutely skyrocketing at the moment. As the cost of living increases and the inflation rises, house and unit rents have both reached an all-time high.

Online property marketplace Domain has just released its Quarterly Rent Report, which reveals exactly how big the Aussie rent hike has been over the last quarter. Importantly, the report found that unit rents are outpacing house rents due to affordability constraints, and the return of overseas migration and foreign students, creating an increasingly competitive rental market.

Here’s how much rent has gone up in your state.

Melbourne

Median house rents in Melbourne rose 2.2% over the quarter to $470 per week. Despite this, Melbourne is still the most affordable city to rent a house.

Median unit rents rose by 3.7% to $425 per week.

Sydney

Median house rents went up by 4.8% over the quarter to $650 per week, which is the second-largest quarterly rise on record.

Median unit rents in NSW have had the highest annual rise on record at 14.6%.

Brisbane

Median house rents surged to a new record high of $550 per week, at an increase of 5.8% over the quarter. This is the highest annual increase on record at 22.2%.

Median unit rents increased by 2.2% over the quarter to $460 per week.

Adelaide

Median house rents in Adelaide rose by 2.1% to hit a new record high of $490 per week. House rents have risen in this city for nine consecutive quarters.

Median unit rents went up by 5.3% over the quarter to a record $400 per week.

Canberra

Median house rents actually fell in Canberra over the quarter for the first time since 2020, down 1.4% to $680 per week. Canberra is the only city to report a decline.

Median unit rents were steady at $550 per week.

Perth

Median house rents in Perth are 11.1% higher than last year, rising 0.2% over the quarter to $500 per week.

Unit rents surged by 5% over the quarter to reach the highest point since 2013 at $420 per week.

Hobart

Median house rents held steady over the quarter at $540 per week.

Median unit rents are also steady in Hobart. For the second quarter in a row, they sit at a record high of $450 per week.

Darwin

Median house rents went up by 2.1% over the quarter to reach $613 per week, the highest rent in Darwin since 2015.

Unit rents rose by 4.2% to $500 per week.

If your landlord wants to increase your rent, know your rights with this handy guide.