Top 20 rents rising
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  • New research has revealed top 20 suburbs where rents are set to rise, with regional areas dominating the charts
  • NSW also a standout, with 8 suburbs listed and Bogangar taking top spot
  • Rankings highlight issue of rental affordability with rents in all 20 suburbs rising by at least 33% in past year

New research commissioned by home relocation platform HOOD.ai has revealed the top 20 Australian suburbs where rents are set to rise.

The quarterly Tenant Report analysed the rents and vacancy rates of every Australian suburb in the last 12 months, before filtering the data by certain criteria to establish the ranking.

The result was a list of 20 suburbs where landlords had the upper hand over their tenants, with that power increasing over the past year.

Of the suburbs that made the exclusive list, all saw rent increases of at least 33% in the past 12 months.

Power imbalance tips towards landlords

The report contained data from property research consultancy Suburbtrends, and aimed to only identify suburbs with legitimate and tightening rental markets.

Suburbs were excluded from consideration if they met the following criteria:

  • fewer than 500 total properties
  • rentals comprised of less than 10% of total stock
  • vacancy rate above 1%
  • vacancy rate had increased in the past year
  • median weekly rent rent had not increased by at least 10% in their SA3
    during the past year

HOOD.ai founder and Ceo Tommy Fraser said the final ranking highlights the issue of rental affordability.

Top 20 Australian suburbs where rents are set to rise

Rank State Suburb Postcode Property Type Median Weekly Rent Annual Rental Increase Vacancy Rate
1 NSW Bogangar 2488 Unit $650 52.9% 0.5%
2 QLD Burrum Heads 4659 House $500 51.5% 0.9%
3 QLD Avoca 4670 Unit $330 50.0% 0.4%
4 NSW Hastings Point 2489 Unit $650 47.7% 0.0%
5 QLD Paradise Point 4216 House $745 47.5% 0.7%
6 WA Leeming 6149 Unit $450 45.2% 0.4%
7 NSW Tarrawanna 2518 House $750 44.2% 0.0%
8 NSW Colo Vale 2575 House $600 42.9% 0.0%
9 NSW Brunswick Heads 2483 House $795 42.0% 0.6%
10 NT Howard Springs 835 House $695 41.8% 0.0%
11 WA Beechboro 6063 Unit $380 40.7% 0.4%
12 NSW Cooma 2630 Unit $330 40.4% 0.6%
13 WA Kambalda West 6442 House $280 40.0% 0.6%
14 NSW Sussex Inlet 2540 Unit $415 38.3% 0.6%
15 QLD Chelmer 4068 House $685 37.0% 0.7%
16 NSW Kahibah 2290 House $600 36.4% 0.0%
17 VIC Rochester 3561 House $380 35.7% 0.0%
18 QLD Chuwar 4306 House $430 34.4% 0.0%
19 WA Quindalup 6281 House $670 34.0% 0.0%
20 QLD Pomona 4568 House $600 33.3% 0.0%

New South Wales dominated the rankings with the most suburbs of any state, and taking top position with rents in Bogangar increasing by 52.9% in the past year.

The rankings also showed a clear trend towards regional locations, with 17 of the suburbs regionally positioned while only three were in capital cities.

According to Mr Fraser, vacancy rates are low across several parts of Australia and many are still falling, placing upwards pressure on rental prices.

Tommy Fraser HOOD.ai
Tommy Fraser, HOOD.ai founder and CEO. Image supplied.

“Traditionally, when renters get priced out of an area, they tend to shift to a cheaper suburb nearby, but that’s become increasingly hard in the current market, which is forcing tenants to move even further in search of affordable accommodation.”

“If you live in any of the suburbs mentioned in this report, take note, because there’s a strong chance your landlord will increase your rent at the next rental review,” concluded Mr Fraser.

~

Top 20 suburbs where rents are set to rise

  1. Bogangar, NSW
  2. Burrum Heads, QLD
  3. Avoca, QLD
  4. Hastings Point, NSW
  5. Paradise Point, QLD
  6. Leeming, WA
  7. Tarrawanna, NSW
  8. Colo Vale, NSW
  9. Brunswick Heads, NSW
  10. Howard Springs, NT
  11. Beechboro, WA
  12. Cooma, NSW
  13. Kambalda West, WA
  14. Sussex Inlet, NSW
  15. Chelmer, QLD
  16. Kahibah, NSW
  17. Rochester, VIC
  18. Chuwar, QLD
  19. Quindalup, WA
  20. Pomona, QLD


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