Rents Hit New High

Australia’s median rent has hit a new high, increasing by 1.6% in the December quarter to reach $650 per week.

The latest increase, according to realestate.com.au data, means median rents are up by 4.8% over the past 12 months which equates to tenants paying an additional $1560 a year.

Capital city median rents are $650 per week, and regional median rents are $590 per week (up 7.3% in the past 12 months).

REA Group senior economist Anne Flaherty says rent growth, although at a slower rate, is set to continue this year.

“We are likely to see rents hit new record highs in 2026,” she says.

“Nationally, unit rents are up 6.7% over the year compared with 3.2% for houses. That reflects where demand is strongest, particularly in inner-city and inner-fringe locations where apartments are often the most affordable option.”

Sydney’s median rent is now $760 per week, Perth is $700, Brisbane is $670, Darwin is $650, Melbourne is $575 and Hobart is $573.