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Rent crisis: 17 suburbs with zero vacant rentals

·Personal Finance Editor
·3-min read
A sign in front of a property that was for rent with a 'leased' sticker to indicate it was now off the market.
Renters are struggling to secure properties in these suburbs. (Source: Getty)

Renters are finding it increasingly difficult to secure a place to live as competition in the property market heats up.

New research from RentRabbit.com.au found the rental markets in Australia where it was most difficult to find a property.

The quarterly RentRabbit Rental Crisis Report identified the top suburbs where tenants desperately needed more rental accommodation to come onto the market.

To make the list, the suburbs needed to:

  • Have very low vacancy rates

  • Have low average weekly household incomes

  • Be below-average in terms of socio-economic status

The research analysed every rental house market in Australia, before filtering out suburbs that contained more than three vacant rental properties, had a vacancy rate above 1 per cent and were above average in terms of socio-economic status.

That left a small list of Australian suburbs. To establish the rankings, the suburbs were then ranked based on their median weekly rent, expressed as a share of their average weekly household income.

The suburbs were spread across five states: New South Wales, Queensland, Tasmania, Western Australia and South Australia.

All the suburbs had a vacancy rate under 1 per cent, while some had a vacancy rate of 0 per cent.

It should be noted when a suburb has a vacancy rate of 0 per cent, that doesn’t mean the suburb literally has no vacant rental properties.

Rental properties are regarded as ‘officially’ vacant when they’ve been on the market for 21 days or more.

When a suburb has a vacancy rate of 0 per cent, it means all rental properties are being filled in less than 21 days of being listed for rent.

RentRabbit co-founder Ben Pretty said the rental crisis was one of the biggest issues facing the new Federal Government.

“There are many suburbs across Australia where vacancy rates are very low and tenants are struggling to find somewhere to live,” Pretty said.

“For affluent tenants in more privileged suburbs, they at least have more options in terms of where they can live, especially as many of them are knowledge workers who can work remotely.

“But for the many tenants who have low household incomes and who live in socio-economically disadvantaged areas, they're really struggling right now and have very few options.”

Most difficult suburbs to rent

These are the top 17 suburbs where it’s impossible to find a rental property.

Suburb

Average weekly rent

Rent as a share of weekly income

Banora Point (Tweed Valley, NSW)

$695

64%

Tweed Heads South (Tweed Valley, NSW)

$495

62%

Coombabah (Gold Coast - North, Queensland)

$580

62%

Nambucca Heads (Kempsey - Nambucca, NSW)

$450

61%

Cooroy (Noosa Hinterland, Queensland)

$670

61%

Ulladulla (Shoalhaven, NSW)

$495

61%

Victor Harbor (Fleurieu - Kangaroo Island, SA)

$450

59%

Maclean (Clarence Valley, NSW)

$460

56%

West Kempsey (Kempsey - Nambucca, NSW)

$410

54%

Busselton (Augusta - Margaret River - Busselton, WA)

$450

54%

Rokeby (Hobart - North East, Tasmania)

$475

53%

Wauchope (Port Macquarie, NSW)

$490

53%

Unanderra (Dapto - Port Kembla, NSW)

$500

53%

Currimundi (Caloundra, Queensland)

$612

52%

Gateshead (Lake Macquarie - East, NSW)

$480

52%

Urraween (Hervey Bay, Queensland)

$485

51%

Mowbray (Launceston, Tasmania)

$400

51%

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