Australia News

Rents in Australia Rise 44 Percent in 5 Years as Vacancies Hit New Low

Nationally, rents increased 4.3 percent in a year up to the end of September. The median rent in Sydney is $807 per week, compared to $615 in Melbourne.
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Rents in Australia Rise 44 Percent in 5 Years as Vacancies Hit New Low
A photo taken on June 16, 2024 shows an aerial view of apartment blocks located in the Sydney suburb of Mascot in Australia. David Gray/AFP via Getty Images
Monica O’Shea
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Rents across Australia have soared by nearly 44 percent in the last five years, according to a new report.

The Cotality National Rental Value Index, released on Oct. 8, showed national rents rose 4.3 percent in the year up to September to an average of $672 a week, including both capital cities and regional areas.

Monica O’Shea
Monica O’Shea
Author
Monica O’Shea is a reporter based in Australia. She previously worked as a reporter for Motley Fool Australia, Daily Mail Australia, and Fairfax Regional Media. She can be reached at monica.o'[email protected]