Sydney to Overtake Canberra as Most Expensive Rental Market in Australia

A general view from the suburb of Earlwood is seen in Sydney, Australia, on Sept. 6, 2022. Lisa Maree Williams/Getty Images

Sydney is on its path to replacing Canberra as the most expensive city for renters in Australia due to an increase in demand for rental properties as migration is picking up.

According to the real estate data provider CoreLogic, Canberra was the only capital city to see a drop in rents in the September quarter, with prices dipping by 0.4 percent.