Important points
In Australia’s highly sought-after suburbs, limited supply and intense competition among tenants are making it increasingly difficult to find rental properties, leading to soaring rental prices.
The coronavirus disease (COVID-19) pandemic has had a major impact on rental market trends, with urban suburbs experiencing the tightest demand due to factors such as declining household sizes, urban renewal, and a surge in migration and students. There is.
Suburbs such as Dee Why, Maroochydore and Coogee have extremely low vacancy rates of 0.32%, making the rental market extremely tight and making it extremely difficult for renters to find suitable accommodation. Masu.
Despite tough conditions in big cities, rental market pressures are easing in some rural areas and suburbs, offering renters more choice and value. Canberra’s suburbs such as Taylor and Denman Prospect have benefited from recent housing development, giving renters peace of mind.
Although challenges remain, there are signs that the rental market is becoming unbalanced. Factors such as increased household size and increased investor interest may help ease the situation in the future, potentially offering hope to renters facing the current crisis.
Finding a rental property in some of Australia’s most popular suburbs is becoming an increasingly difficult task.
With only a small percentage of properties available for rent, tenants face intense competition, driving up rental prices and exacerbating the existing rental crisis.
High demand and limited supply have left many confused.
But it’s not all doom and gloom.
There are signs that the situation is easing across the country, especially in rural areas and suburbs near the capital.
While hotspots like city centers and coastal suburbs remain tight, other regions are opening up more space for renters in this difficult market, according to the latest data from PropTrack.
Impact of the pandemic on the rental market
There is no doubt that the pandemic has played an important role in shaping these market dynamics.
Eleanor Cree, senior economist at PropTrack, said: Observe Since 2021, the rental market in the urban suburbs, which were hit hardest by the pandemic, has tightened significantly due to a decline in household sizes, a return to urban living, and a sharp increase in net migration and student arrivals.
Take Dee Why on Sydney’s northern beaches, for example.
With a vacancy rate of just 0.32%, it is currently the suburb with the toughest rental market in Australia.
In contrast, suburbs such as Maroochydore on Queensland’s Sunshine Coast and coastal areas such as Coogee in Sydney and Rockingham in Perth also have low vacancy rates, indicating a highly competitive market.
The reasons for this tightening are various.
A combination of a rapidly growing population, a lack of new housing construction, and investors selling off properties is reducing the number of available rental properties.
Suburbs where it’s almost impossible to find a rental property
| rank | suburbs | state | Region (SA4) | vacancy rate |
| 1 | Dee Why | New South Wales | Sydney – Northern Beaches | 0.32% |
| 2 | Maroochydoll | queensland | sunshine coast | 0.33% |
| 3 | Pimpama | queensland | gold coast | 0.35% |
| Four | Nanda | queensland | Brisbane – North | 0.39% |
| Five | Annalee | queensland | Brisbane – South | 0.40% |
| 6 | north lakes | queensland | Moreton Bay – South | 0.41% |
| 7 | Buderim | queensland | sunshine coast | 0.42% |
| 8 | Boronia | vic | Melbourne – Outer East | 0.45% |
| 9 | coburg | vic | Melbourne – Inner | 0.46% |
| Ten | Kuapaloo | queensland | Brisbane – South | 0.47% |
New opportunities emerge in rural areas and urban areas
In contrast to tight inner-city markets, rental market pressures are easing in some rural areas and on the outskirts of cities.
Suburbs such as Taylor and Denman Prospect in Canberra, as well as regions in New South Wales, have benefited from recent housing developments, offering more choice for renters.
A similar trend is seen in Victoria and Queensland, with Melbourne’s outer suburbs and regions of Queensland having higher vacancy rates than their respective city centres.
Despite overall difficult market conditions, this trend offers both choice and value to renters.
Suburbs with the most rental properties
| rank | suburbs | state | Region (SA4) | vacancy rate |
| 1 | taylor | activity | Australian Capital Territory | 14.7% |
| 2 | Dysart | queensland | Mackay – Isaac – Whitsunday | 13.0% |
| 3 | collins building | queensland | Mackay – Isaac – Whitsunday | 11.6% |
| Four | Newman | western australia | Western Australia – Outback (Northern) | 11.3% |
| Five | Denman Prospect | activity | Australian Capital Territory | 10.1% |
| 6 | Berridale | New South Wales | Capital Area | 9.7% |
| 7 | Pegs Creek | western australia | Western Australia – Outback (Northern) | 9.4% |
| 8 | nicole | western australia | Western Australia – Outback (Northern) | 8.1% |
| 9 | Blue Lee | New South Wales | Capital Area | 8.1% |
| Ten | birmingham gardens | New South Wales | Newcastle and Lake Macquarie | 7.8% |
Looking to the future
Mr Creagh concluded that although challenges persist for renters, the market is showing signs of rebalancing.
Factors such as increased household size and increased investor interest are influencing this change, which could ease rental market conditions.
