Rents rise $137 per week: Cheapest Aussie suburbs revealed

Rent prices have risen for the 38th month in a row. (Source: AAP)

Rent prices have skyrocketed more than 30 per cent since July 2020, with the national average rent costing Aussies $588 per week.

And the problem is just getting worse, with rents rising a further 1.6 per cent in September - marking the 38th consecutive month of rising prices, according to CoreLogic data.

But there may be some light at the end of the tunnel, with the pace of growth finally starting to slow.

• Also read: Rental crisis: Warning for tenants as costs rise and vacancies drop again

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• Also read: 3 clear signs the rent crisis could ease next year

CoreLogic economist Kaytlin Ezzy said there were a number of factors driving the slowdown in rental growth, even though limited availability was still driving prices higher.

“Worsening affordability continues to be a significant factor placing downward pressure on the pace of rental growth in recent months,” Ezzy said.

“With the rising cost of living adding additional pressure on renters’ balance sheets, it is likely tenants have hit an affordability ceiling, seeking to grow their households to share the growing rental burden.”

Cheapest rental suburbs

If you’re looking for an affordable place to rent, these are the cheapest suburbs across all the capital cities and the average weekly rent.

Sydney

1. Carramar - $389

2. Cabramatta - $391

3. Canley Vale - $402

4. Berkeley Vale - $410

5. Fairfield - $420

Melbourne

1. Melton South - $345

2. Melton - $350

3. Albion - $366

4. Werribee - $379

5. Bacchus Marsh - $380

Brisbane

1. Woodridge - $352

2. Caboolture - $370

3. Bundamba - $384

4. Mount Warren Park - $391

5. Beenleigh - $394

Adelaide

1. Salisbury East - $361

2. Salisbury - $378

3. Elizabeth South - $393

4. Kilburn - $397

5. Elizabeth North - $398

Perth

1. Dudley Park - $371

2. Orelia - $380

3. Shoalwater - $384

4. Ellenbrook - $408

5. Midland - $433

Hobart

1. Claremont - $411

2. West Moonah - $422

3. Glenorchy - $431

4. Primrose Sands - $443

5. Brighton - $448

Darwin

1. Bakewell - $457

2. Leanyer - $468

3. Coconut Grove - $475

4. Millner - $478

5. Rapid Creek - $494

Canberra

1. Lyons - $468

2. Chifley - $494

3. Hawker - $501

4. Mawson - $528

5. Gungahlin - $529

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