Cheapest Capital City Suburbs To Rent Today

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

A perfectly-positioned harbourside residence, formerly the home of a late Melbourne Cup-winning horse owner, has come to market with $14 million price expectations for its February 22 auction.

Sitting in one of Sydney’s most coveted enclaves on Waiwera St in Lavender Bay, the duplex with never-to-be-built-out gunbarrell views of both the Sydney Harbour Bridge and Opera House was home to championship thoroughbred owner Michael Fergus Doyle. The Irish-born entrepreneur was part owner of Protectionist, the 2014 Melbourne Cup winner.

Bought by Doyle in April 2020, in an off-market deal totalling $11 million according to CoreLogic data, the two-storey Lavender Bay property is being sold by the racing legend’s family through Atlas Sydney & East Coast. Doyle, a prominent character in Sydney’s Irish community for more than 50 years after arriving down under in the 1960s with a 10 pound boat ticket, sadly passed away in November 2023 at the age of 77.

Doyle built his fortune by building a construction company from the ground up that eventually employed more than 300 people and had a contract with Sydney Water worth A$100 million a year. By 2009, Doyle sold the business to a company owned by the Singapore Government and breeding horses through Doyles Breeding & Racing became his next passion.

The contemporary four-bedroom three-bathroom property features 304sq m of internal living space with additional outdoor entertaining areas on both levels.

Beyond the impressive grand entrance foyer with a personalised floor medallion, the layout opens up to reveal a large everyday living level with a formal lounge room and casual sitting space featuring walls of windows to frame the Harbour City’s top icons. Thanks to a central skylight tower, this main living zone is also flooded with natural light.

A spacious chef-grade kitchen anchored by a long island bench is equipped with Gaggenau appliances, gas burners, dual ovens, and a grill plate. The adjoining dining area spills out onto a terrace with an integrated bar table plus a Luna Park and bridge backdrop. The entry level also houses a home office or guest bedroom with a Juliette balcony and integrated desks opposite a full bathroom.

In the main bedroom suite upstairs there is a deep full-width balcony with more landmark views, a vast walk-in wardrobe, plus a spa ensuite complete with twin vanities, heated floors and warming towel racks. Two more bedrooms on the upper level each have access via French doors to a shared street-facing terrace and built-ins with a common family-friendly bathroom.

Added extras include automatic awnings and privacy screens to the outdoor areas, marble floor tiles, and a double lock up garage with storage.

The designer duplex is located close to harbourside dining venues, foreshore parks such as Bob Gordon Reserve and Wendy Whiteley’s Secret Gardens, Kirribilli Markets and North Sydney’s bustling CBD.

Property 2 at 9-11 Waiwera St is on the market with Adrian Bridges and Daniel Chester of Atlas Sydney & East Coast with a price guide of $14 million. It is set to go under the hammer on February 22.