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The best rental markets in each state revealed

By Bianca Dabu
20 April 2021 | 1 minute read
The best rental markets in each state revealed

As house rent prices hit record highs across the nation, here’s the areas showing real investment potential, and leading Australia’s rental market growth.

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National house rents have increased by 0.6 of a percentage point over the March 2021 quarter, bringing the median weekly asking rent to $471, the latest Domain Rent Report has found.

Over the same quarter, most capital cities have seen median house rental asking prices hold steady or increase, with Hobart leading the charge at a 4.3 per cent rise. Only Melbourne saw house rents decrease by 2.3 per cent.

In fact, the report flagged that house rents in most capital cities have hit record highs — once again, with the exception of Melbourne, along with Perth and Darwin.

However, based on annual results, Perth and Darwin saw the greatest rises in median asking rent for both houses and units, with prices increasing by as much as $70 in some areas.

Perth, in particular, has witnessed “the highest asking rents in almost six years”, according to Domain.

With outstanding results across most states, find out which areas have emerged as winners in the rental race:

NSW

Area Median Rent Annual Growth
Byron Bay $885 26.4%
Eurobodalla $528 22.7%
Yass Valley $530 21.8%
Snowy Monaro Regional $410 17.1%
Wingecarribee $580 16.0%

Victoria

Area Median Rent Annual Growth
Alpine $440 25.7%
South Gippsland $350 16.7%
Wangaratta $370 15.6%
Latrobe $370 13.8%
Bass Coast $390 11.4%

Queensland

Area Median Rent Annual Growth
Gladstone $350 25.0%
Noosa $650 22.6%
Isaac $350 20.7%
Rockhampton $370 19.4%
Livingstone $450 18.4%

Western Australia

Area Median Rent Annual Growth
Port Hedland $575 36.1%
Augusta-Margaret River $500  25.0%
Coolgardie $238 25.0%
East Pilbara $525 20.6%
Busselton $473 18.1%

South Australia

Area Median Rent Annual Growth
Victor Harbor  $450 30.4%
Mount Gambier $303 12.0%
Whyalla  $270 8.0%
Port Pirie $220 6.0%
Roxby Downs $370 5.7%
The best rental markets in each state revealed
Perth suburbs landscape reb
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