Australian rents have almost doubled in the past year

Rents have risen more than 90 percent across Australia and almost two thirds of unit suburbs recorded an annual increase of at least 10 percent, new data has shown.

In news that will be no surprise to many tenants, the CoreLogic Mapping the Market report revealed that rents in Adelaide and Perth increased by 100 percent for both houses and units, while in Brisbane, rents for units also doubled, with house rents close behind recording a 99.6 percent rise. The cost of renting in Darwin also rose considerably for those living in units, up 100 percent on the previous 12 months. Those renting houses in the Northern Territory’s capital fared slightly better, with their rents increasing on average by 71.4 percent.

It was a predictable story in the eastern states where rents in the two biggest capitals have jumped over the past year. In Melbourne, the cost of renting went up 98.1 percent for houses and 99.1 percent for units. The news was not much better for renters in Sydney where rents shot up by 91.9 percent for houses.

Despite consistently strong growth in house values in recent years, Canberra recorded the lowest annual rent rise for houses at just 2.5 percent while the cost of renting a unit increased by 56.1 percent on average. CoreLogic data shows rents fell in 18 unit markets in Canberra over the past year.

Regional areas also experienced rental hikes over the past year, with the cost of renting housing doubling in Western Australia.

CoreLogic Economist Kaytlin Ezzy said the lack of housing supply and interest rate rises were the main drivers for the increases.

“Investors tend to shy away from the housing market during negative economic shocks. The sharp rise in interest rates has coincided with a -23.6 percent fall in new housing investment lending between April 2022 and May this year, and this includes a slight recovery in investment lending in recent months, which has lifted 10 percent from a low in February this year,” she said.

“On the demand side, record levels of overseas migrants, many of whom rent in inner-city unit precincts, has bolstered rental demand this year, causing an imbalance between rental demand and supply.

“For Perth in particular, there is a persistent shortage of rentals, with total rent listings now about – 50 percent lower than the historic five-year average.”

Italian fine wines are gaining momentum among Australian collectors and drinkers, with new data from showing a surge in interest driven by value, versatility and a new generation of producers.

Long dominated by France, the premium wine conversation is beginning to shift, with Italy increasingly positioned as a compelling alternative for both drinking and collecting.

According to Langtons, the category is benefiting from a combination of factors, including its breadth of styles, strong food affinity and more accessible price points compared to traditional European benchmarks.

“Italy has always offered fine wine fans an incredible range of wines with finesse, nuance, expression of terroir, ageability, rarity, and heritage,” said Langtons General Manager Tamara Grischy.

“There’s no doubt the Italian wine category is gaining momentum in 2026… While the French have long dominated the fine wine space in Australia, we’re seeing Italy become a strong contender as the go-to for both drinking and collecting.”

The shift is being reinforced by changing consumer preferences, with Langtons reporting increased demand for indigenous Italian varieties and lighter, food-first styles such as Nerello Mascalese from Etna and modern Chianti Classico.

This aligns with the broader rise of Mediterranean-style dining in Australia, where wines are expected to complement a wider range of dishes rather than dominate them.

Langtons buyer Zach Nelson said the category’s versatility is central to its appeal.

“Italian wines often have a distinct, savoury edge making them an ideal pairing for a variety of cuisines,” he said.

The move towards Italian wines also comes as prices for traditional French regions continue to climb, particularly in Burgundy, prompting collectors to look elsewhere for value without compromising on quality.

Italy’s key regions, including Piedmont and Etna, are increasingly seen as offering that balance, with premium wines available at comparatively accessible price points.

Nelson said value is now a defining factor for buyers in 2026.

“Value is the key driver for Australian fine wine consumers… Italian wines are offering exactly that at an impressive array of price points to suit any budget,” he said.

The category is also proving attractive for newer collectors, offering what Langtons describes as “accessible prestige” and a more open entry point compared to the exclusivity often associated with Bordeaux.

Wines such as Brunello di Montalcino and Nebbiolo-based expressions are increasingly being positioned as entry points into cellar-worthy collections, combining ageability with relative affordability.

At the same time, a new generation of Italian producers is reshaping the category, moving away from heavier, oak-driven styles towards wines that emphasise site expression and vibrancy.

“There’s definitely a ‘new guard’ of Italian winemaking… stripping away the makeup… to let the raw, vibrating energy of the site speak,” Nelson said.

Langtons is also expanding its offering in the category, including exclusive access to wines from family-owned producer Boroli, alongside a broader selection spanning Piedmont, Veneto, Sicily and Tuscany.

The company will showcase the category further at its upcoming Italian Collection Masterclass and Tasting in Sydney, featuring more than 50 wines from 23 producers across four key regions.

For collectors and drinkers alike, the message is clear: Italy may have been overlooked, but it is no longer under the radar.

Australian rents have almost doubled in the past year

The lack of housing supply and higher interest rates continue to put pressure on a tight rental market

Italian wines are emerging as a serious contender for Australian collectors, offering depth, rarity and value as French benchmarks continue to climb.