Cheapest Capital City Suburbs To Rent Today
Australia is in the midst of a rental crisis, with weekly rents rising 30% over 38 consecutive months
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It costs a median $616 per week to rent a property across Australia’s combined capital cities, with rents rising 10% over the past 12 months alone, according to new CoreLogic data. The cost is lower across the combined regions a median of $507 per week, up 4.1% over the past year.
Rents across Australia have risen by 30% over 38 consecutive months, adding $137 per week to the median cost of renting. The number of properties being advertised for rent fell to its lowest level in more than 10 years during the September quarter. A rental vacancy rate of 3% is considered a balanced market but rates are now at record lows of 1% in the capitals and 1.2% in the regions.
CoreLogic Economist Kaytlin Ezzy said record high net overseas migration and an estimated shortfall of 47,500 rental homes were pushing rental values higher. However, she noted that the pace of rental growth is starting to slow, with national rents rising 1.6% in the September quarter compared to 2.2% in the June quarter, as renters hit an affordability ceiling.
Ms Ezzy said more renters were banding together to form larger households to share the burdensome cost – a trend that is creating stronger demand for rental houses, in particular. “There is already some evidence that a structural change in household formation, coupled with worsening affordability in the unit sector, has shifted some rental demand back in favour of the low-density sector,” Ms Ezzy said. “National house rents are now rising faster than unit rents … reversing the trend seen through much of 2022 and the first half of 2023.”
CoreLogic has published a report revealing the cheapest suburbs to rent in within a 20km radius of capital city CBDs. The list below shows the current median weekly rent in each suburb.
Cheapest rents within 20km of CBDs
Sydney houses
Auburn $648 pw
South Granville $657 pw
Granville $673 pw
Regents Park $675 pw
Sefton $676 pw
Sydney apartments
Berala $486 pw
Wiley Park $491 pw
Punchbowl $498 pw
Lakemba $501 pw
Regents Park $509 pw
Melbourne houses
Albanvale $441 pw
Laverton $441 pw
Broadmeadows $441 pw
Kings Park $442 pw
Ardeer $443 pw
Melbourne apartments
Albion $366 pw
St Albans $398 pw
Deer Park $406 pw
Kingsville $411 pw
Thomastown $420 pw
Brisbane houses
Woodridge $501 pw
Inala $503 pw
Ellen Grove $523 pw
Darra $526 pw
Rocklea $544 pw
Brisbane apartments
Woodridge $352 pw
Rochedale South $436 pw
Strathpine $446 pw
Brendale $459 pw
Alexandra Hills $468 pw
Adelaide houses
Salisbury $473 pw
Braham Lodge $475 pw
Salisbury Downs $478 pw
Paralowie $498 pw
Taperoo $502 pw
Adelaide apartments
Salisbury East $361 pw
Salisbury $378 pw
Kilburn $397 pw
Klemzig $402 pw
St Marys $403 pw
Perth houses
Girrawheen $491 pw
Gosnells $501 pw
Midland $503 pw
Middle Swan $518 pw
Koondoola $519 pw
Perth apartments
Midland $433 pw
Gosnells $441 pw
Noranda $445 pw
Hamilton Hill $457 pw
Coolbellup $462 pw
Hobart houses
Bridgewater $485 pw
Midway Point $501 pw
Chigwell $501 pw
Claremont $509 pw
Berridale $516 pw
Hobart apartments
Claremont $411 pw
West Moonah $422 pw
Glenorchy $431 pw
Lindisfarne $456 pw
New Town $463 pw
Canberra houses
Higgins $597 pw
Scullin $598 pw
Page $599 pw
Charnwood $599 pw
Holt $599 pw
Canberra apartments
Lyons $468 pw
Chifley $494 pw
Hawker $501 pw
Mawson $528 pw
Gungahlin $529 pw
Darwin houses
Moulden $539 pw
Gray $549 pw
Driver $564 pw
Woodroffe $587 pw
Bakewell $591 pw
Darwin apartments
Bakewell $457 pw
Leanyer $468 pw
Coconut Grove $475 pw
Millner $478 pw
Rapid Creek $494 pw
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Crafted by Pandolfini Architects with interiors by Lisa Buxton, the Glen Iris residence pairs industrial-inspired design with refined contemporary living and a five-car showroom pavilion.
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A bold architectural statement in Melbourne’s inner east, this unique Glen Iris home marries sculptural design with sophisticated family living in a remarkable real estate relationship.
Conceived by Pandolfini Architects, with interiors by Lisa Buxton, the custom-built four-bedroom, two-level home was crafted for its current owners but is now coming to market for the first time.
Listed via an expressions-of-interest campaign with Marshall White agents Rae and Hugh Tomlinson and Mandy Zhu, 8 Erica Ave is on the market with price expectations of $7.5 million to $8 million.
Its dramatic street appeal sets the tone for what’s to come, because beyond the contemporary façade sits a modern residence unlike any other.
Pandolfini’s team brief was to create an inviting home made from hard-wearing materials, with a palette inspired by ancient ruins and old industrial buildings.
The result is striking, cantilevered terracotta brickwork and a patinated copper-screened exterior that borrows hues from the classic neighbouring cottages.
One within the home, the Erica Ave property unfolds across three interconnected pavilions positioned along the deep block. Long gallery hallways are framed by floor-to-ceiling glass to showcase garden and pool views, making the most of the 886 sq m site.
Raw, heavily textured walls create an industrial aesthetic inside and out, while curious “upside-down” arched windows introduce a creative architectural twist.
At the heart of the home, the central living and dining zone is divided by a sculptural fireplace rendered in hard plaster. High barn-style spotted gum timber ceilings rise above bush-hammered concrete walls with Roman travertine floors, and American oak joinery.
In the marble kitchen, there are premium Wolf and Miele appliances, a butler’s pantry, an integrated study nook, and a bespoke curved window that wraps around a custom-made banquette dining space.
Walls of glass frame the north-facing terrace where a heated swimming pool and spa are enveloped by private landscaped gardens with an integrated barbecue setting.
Within the front pavilion, the large parents’ retreat features built-in and walk-in wardrobes, a dresser, and a travertine ensuite with a freestanding bathtub, rain shower, and a dual-marble vanity. Also on the ground floor is a second bedroom and a media room with a built-in daybed and a picture window overlooking the yard.
One floor up via the curved staircase with skylight, there are two more bedrooms with terrazzo bathrooms, study spaces, and leafy outlooks.
Car enthusiasts not only have a single lock-up garage on Erica Ave, but an additional rear showroom-style five-car pavilion or grand studio accessed via Irymple Ave. It has a high vaulted ceiling, a concealed in-floor Maha car lift, a workbench, and a sink.
Added extras include a mud room, laundry with side access, in-floor heating and climate control within the engineered European oak floors, deluxe joinery, and CCTV security.
The Glen Iris home is within walking distance of Central Park Village, Harold Holt Swim Centre, and Gardiner Station, as well as popular schools including Sacré Cœur, Korowa, and Caulfield Grammar.
The Pandolfini-designed house at 8 Erica Ave, Glen Iris is listed with Marshall White for $7.5 million to $8 million via an expressions of interest campaign.
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