Advertisement
Australia markets open in 8 hours 21 minutes
  • ALL ORDS

    8,015.80
    +72.20 (+0.91%)
     
  • AUD/USD

    0.6651
    +0.0038 (+0.57%)
     
  • ASX 200

    7,778.10
    +77.80 (+1.01%)
     
  • OIL

    81.37
    +1.04 (+1.29%)
     
  • GOLD

    2,340.00
    +11.00 (+0.47%)
     
  • Bitcoin AUD

    97,130.38
    -1,154.44 (-1.17%)
     
  • CMC Crypto 200

    1,323.31
    -66.09 (-4.76%)
     

Rent crisis: The suburbs where rents skyrocketed almost 50%

Aussies living in regional and inner-city suburbs alike are facing staggering rent hikes.

Australian property. Aerial view of houses. Australian money notes. Property investment concept.
Aussies are facing rental increases of almost 50 per cent in some suburbs. (Source: Getty)

Rents are skyrocketing across Australia, with both regional and inner-city dwellers feeling the squeeze.

New data from PropTrack has revealed the Aussie suburbs where rents have soared in the last 12 months due to tight supply and high demand.

For houses, nine out of the top 10 suburbs that experienced the biggest increases were in regional Australia. This was due to Aussies flocking to regional areas looking for more space and a regional lifestyle, PropTrack said.

ADVERTISEMENT

The worst affected suburb was Katanning, almost 280 kilometres south-east of Perth, where median rents increased a whopping 47 per cent to $375 per week.

Rents in Port Broughton, 170 kilometres north-west of Adelaide, skyrocketed 43 per cent to $340 per week.

Aussies renting apartments in inner-city suburbs also saw massive hikes, with PropTrack noting the popularity of higher-density living post-COVID.

Units in Melbourne’s CBD increased 42 per cent to $540 per week, while units in Darlington in inner-city Sydney jumped 38 per cent to $565 per week.

Suburbs with the biggest rent hikes

Here are the suburbs that experienced the largest rent increases in the past 12 months, according to PropTrack.

Houses

  1. Katanning, WA - $375 - 47 per cent

  2. Port Broughton, SA - $340 - 43 per cent

  3. Gatton, Qld - $460 - 41 per cent

  4. Elliott Heads, Qld - $480 - 41 per cent

  5. Orbost, Vic - $340 - 40 per cent

  6. Stanwell Park, NSW - $910 - 39 per cent

  7. Catherine Hill Bay, NSW - $715 - 38 per cent

  8. Wamuran, Qld - $660 - 35 per cent

  9. Rochester, Vic - $455 - 35 per cent

  10. Wongan Hills, WA - $315 - 35 per cent

Units

  1. Melbourne, Vic - $540 - 42 per cent

  2. Darlington, NSW - $565 - 38 per cent

  3. The Rocks, NSW - $975 - 35 per cent

  4. Clear Island Waters, Qld - $745 - 34 per cent

  5. Stockton, NSW - $480 - 33 per cent

  6. Bayview, NSW - $930 - 33 per cent

  7. Sydney, NSW - $790 - 33 per cent

  8. Carlton, Vic - $455 - 30 per cent

  9. Forrestfield, WA - $455 - 30 per cent

  10. West Melbourne, Vic - $500 - 30 per cent

Follow Yahoo Finance on Facebook, LinkedIn, Instagram and Twitter, and subscribe to our free daily newsletter.