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Prestige suburbs record big rental price tags

05 May 2015 Elyse Perrau

Tenants will have a tough time finding anything under $1,500 in Australia’s most expensive rental suburbs.

Tenants will have a tough time finding anything under $1,500 in Australia’s most expensive rental suburbs.

Statistics provided by CoreLogic RP Data for March 2015 show Sydney’s continued domination in the prestige rental market as the New South Wales capital recorded 44 of the 50 most expensive rental suburbs. 

The suburb of Dover Heights took out top spot with an average weekly rent of $1,995.

It was an 8 per cent jump from the $1,850 rental price tag recorded in March 2014.

Perth was the only other capital city to make an appearance in the top 10, with the suburb of Peppermint Grove recording an average median rent of $1,875 – a 25 per cent increase from the $1,500 recorded last year. 

Vaucluse in Sydney was next with a median weekly rent of $1,800, up 4 per cent from $1,725.

The suburb of Bellevue Hill recorded a median weekly asking rent of $1,750, which was unchanged from the previous year.

McMahons Point and Watsons Bay both recorded a median weekly rent of $1,700 – a massive 114 per cent jump from $795 for McMahons Point, while no data was available for Watsons Bay.

Double Bay and Balgowlah Heights also tied with a weekly median rent of $1,600.

This was a 6 per cent drop from $1,700 for Double Bay and a 28 per cent increase from $1,250 for Balgowlah Heights. 

Mosman and Northbridge both recorded a median weekly rent of $1,550.

This was a 3 per cent rise for Mosman from the $1,500 recorded last March and a 29 per cent rise from $1,200 for Northbridge.

[Related: Cheapest capital city rental suburbs revealed]

Prestige suburbs record big rental price tags
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