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The top 20 suburbs with rents under $350

·2-min read
Money and rental inspection
It's still possible to find a cheap rental close to the city. (Source: Getty)

Rents have increased sharply this year but it's still possible to find an attractive, commutable suburb to live in for under $350 a week.

Casuarina in Darwin - just 11km from the CBD - topped the charts of tenant-friendly suburbs, according to RentRabbit research, with the median rent for units sitting at $207.

Caulfield East, 10km from Melbourne’s CBD, was ranked second, with the average rental apartment going for $285.

Gardenvale, 10km from Melbourne’s CBD, also made it into the top three, with rents starting at $300.

Only units made it into the top 20 ranking.

The report took into account commuting distance to the city, with suburbs more than 35 kilometres from the CBD excluded from the analysis.

Suburbs were also ruled out if they had a low socio-economic status, as per the Australian Bureau of Statistics’s SEIFA socio-economic measurement system.

RentRabbit co-founder Ben Pretty said landlords were reaping the benefits of low vacancy rates, but it was still possible to find a decent rental.

“Since the pandemic started, we’ve seen a big fall in vacancy rates throughout Australia, which has translated to a big increase in market power for landlords,” Pretty said.

“That’s led to a sharp increase in rents in many places and, sadly, a reduction in accommodation standards, because landlords don’t have to try as hard to attract and retain tenants.

“So, there’s no doubt it’s become harder for tenants – especially lower-income families – to find a good rental property that’s not too far from the CBD and not too expensive.”

He said his company’s latest report showed that tenant-friendly suburbs still existed, although there were fewer of them than pre-pandemic.

“Data from the Australian Bureau of Statistics and the Housing Industry Association suggest there are a lot of new residential properties in the pipeline,” Pretty said.

“Those new builds can’t occur quickly enough, because the only way to reduce the unhealthy levels of demand we’re seeing in the rental market right now is to increase the supply of rental properties.”

rents
Source: RentRabbit

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