Australia markets close in 4 hours 54 minutes
  • ALL ORDS

    7,325.90
    +37.10 (+0.51%)
     
  • ASX 200

    7,065.00
    +32.50 (+0.46%)
     
  • AUD/USD

    0.7120
    -0.0005 (-0.06%)
     
  • OIL

    91.44
    -0.65 (-0.71%)
     
  • GOLD

    1,814.70
    -0.80 (-0.04%)
     
  • BTC-AUD

    34,222.46
    -518.52 (-1.49%)
     
  • CMC Crypto 200

    581.99
    +10.70 (+1.87%)
     
  • AUD/EUR

    0.6935
    -0.0005 (-0.07%)
     
  • AUD/NZD

    1.1036
    +0.0026 (+0.24%)
     
  • NZX 50

    11,795.00
    +64.48 (+0.55%)
     
  • NASDAQ

    13,565.87
    +273.87 (+2.06%)
     
  • FTSE

    7,500.89
    +34.98 (+0.47%)
     
  • Dow Jones

    33,761.05
    +424.35 (+1.27%)
     
  • DAX

    13,795.85
    +101.35 (+0.74%)
     
  • Hang Seng

    20,175.62
    0.00 (0.00%)
     
  • NIKKEI 225

    28,782.28
    +235.30 (+0.82%)
     

Rental crisis: 17 suburbs where it’s impossible to rent

·Personal Finance Editor
·4-min read
A 'leased' sign in front of a home in Australia amid rental crisis.
The rental crisis is hitting Australians all over the country. (Source: Getty)

Australia’s rental crisis is hitting new heights with individuals and families being pushed out of suburbs due to lack of availability and rising rents.

And the lack of supply is hitting Aussies of all backgrounds, with those in lower socio-economic areas finding it near impossible to secure a home.

New research commissioned by RentRabbit.com.au revealed the rental markets in Australia that were desperate for more stock.

All the suburbs identified:

  • Had incredibly low vacancy rates

  • Had low average weekly household incomes

  • Were below average in terms of socio-economic status

RentRabbit.com.au co-founder Ben Pretty said a lot of tenants were facing desperate conditions right now.

“Many Australians are being faced with a triple whammy: they live in socio-economically disadvantaged areas, they have low household incomes and it’s incredibly hard for them to find rental accommodation,” he said.

“Some of these renters are living in suburbs that have a vacancy rate of zero per cent, which means rental properties are being snapped up the moment they become vacant.

“Unsurprisingly, in the vast majority of these suburbs, rents have increased over the past year, often by double-digit percentages.”

Here are the suburbs where it is nearly impossible to rent.

1. Rocherlea (Launceston, Tasmania)

  • Median weekly rent March 2021 - $260

  • Median weekly rent March 2022 - $350

  • Median weekly rent change - up 34.6 per cent

  • Average weekly household income - $627

2. Venus Bay (Gippsland - South West, Victoria)

  • Median weekly rent March 2021 - $280

  • Median weekly rent March 2022 - $340

  • Median weekly rent change - up 21.4 per cent

  • Average weekly household income - $677

3. Golden Beach (Wellington, Victoria)

  • Median weekly rent March 2021 - $335

  • Median weekly rent March 2022 - $379

  • Median weekly rent change - up 13.1 per cent

  • Average weekly household income - $694

4. Elizabeth South (Playford, SA)

  • Median weekly rent March 2021 - $260

  • Median weekly rent March 2022 - $280

  • Median weekly rent change - up 7.7 per cent

  • Average weekly household income - $696

5. Elizabeth North (Playford, SA)

  • Median weekly rent March 2021 - $260

  • Median weekly rent March 2022 - $280

  • Median weekly rent change - up 7.7 per cent

  • Average weekly household income - $699

6. Batemans Bay (South Coast, NSW)

  • Median weekly rent March 2021 - $420

  • Median weekly rent March 2022 - $410

  • Median weekly rent change - down 2.4 per cent

  • Average weekly household income - $703

7. Port Pirie (West Mid North, SA)

  • Median weekly rent March 2021 - $175

  • Median weekly rent March 2022 - $165

  • Median weekly rent change - down 5.7 per cent

  • Average weekly household income - $712

8. Bundaberg Central (Bundaberg, Queensland)

  • Median weekly rent March 2021 - $300

  • Median weekly rent March 2022 - $320

  • Median weekly rent change - up 6.7 per cent

  • Average weekly household income - $714

9. Laurieton (Port Macquarie, NSW)

  • Median weekly rent March 2021 - $375

  • Median weekly rent March 2022 - $420

  • Median weekly rent change - up 12 per cent

  • Average weekly household income - $716

10. Shorewell Park (Burnie - Ulverstone, Tasmania)

  • Median weekly rent March 2021 - $265

  • Median weekly rent March 2022 - $320

  • Median weekly rent change - up 20.8 per cent

  • Average weekly household income - $721

`11. Elizabeth Vale (Playford, SA)

  • Median weekly rent March 2021 - $260

  • Median weekly rent March 2022 - $310

  • Median weekly rent change - up 19.2 per cent

  • Average weekly household income - $731

12. St Helens (North East, Tasmania)

  • Median weekly rent March 2021 - $280

  • Median weekly rent March 2022 - $350

  • Median weekly rent change - up 25 per cent

  • Average weekly household income - $732

13. Ravenswood (Launceston, Tasmania)

  • Median weekly rent March 2021 - $265

  • Median weekly rent March 2022 - $320

  • Median weekly rent change - up 20.8 per cent

  • Average weekly household income - $733

14. Goolwa (Fleurieu - Kangaroo Island, SA)

  • Median weekly rent March 2021 - $295

  • Median weekly rent March 2022 - $345

  • Median weekly rent change - up 16.9 per cent

  • Average weekly household income - $734

15. Nambucca Heads (Kempsey - Nambucca, NSW)

  • Median weekly rent March 2021 - $390

  • Median weekly rent March 2022 - $450

  • Median weekly rent change - up 15.4 per cent

  • Average weekly household income - $735

16. Tuncurry (Great Lakes, NSW)

  • Median weekly rent March 2021 - $460

  • Median weekly rent March 2022 - $480

  • Median weekly rent change - up 4.3 per cent

  • Average weekly household income - $750

17. Davoren Park (Playford, SA)

  • Median weekly rent March 2021 - $265

  • Median weekly rent March 2022 - $290

  • Median weekly rent change - up 9.4 per cent

  • Average weekly household income - $756

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

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting