Cheapest Capital City Suburbs To Rent Today
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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

By Bronwyn Allen
Thu, Nov 2, 2023 11:23amGrey Clock 3 min

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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Mirvac’s 45-level Trielle has topped out at Yarra’s Edge, pairing riverfront apartments with wellness facilities, private dining and resident services.

By Ruba Jaajaa
Wed, Oct 21, 2026 3 min

Mirvac has topped out Trielle at Melbourne’s Yarra’s Edge, with more than 70 per cent of the riverfront development sold and approximately 80 per cent of purchasers intending to make their apartment a home.

The figures, released on September 22, point to an owner-occupier audience for one of the precinct’s final residential towers. Mirvac began developing Yarra’s Edge in 2003, and its latest addition occupies one of the remaining absolute riverfront sites.

Mirvac CEO of Development Stuart Penklis said existing residents were among those moving up within the neighbourhood.

“Many purchasers already have a connection to Yarra’s Edge,” Mr Penklis said, describing buyers whose changing needs were encouraging an upgrade within the precinct.

“As one of the final residential towers within Yarra’s Edge, Trielle represents the culmination of more than two decades of creating one of Melbourne’s most established and sought-after waterfront communities,” Penklis said.

“Positioned on the Collins Street axis with absolute river frontage, Trielle offers residents a rare opportunity to enjoy sweeping views across the Yarra River, Melbourne skyline and Port Phillip Bay, while remaining seamlessly connected to the CBD. With Trielle now more than 70 per cent sold, we’re continuing to see strong demand from buyers seeking quality homes in established locations.”

The developer also flagged a penthouse and sub-penthouse collection with larger layouts, premium finishes and broad outlooks. The planned wellness centrepiece, The Oasis, encompasses a 900-square-metre elevated urban rainforest.

Mirvac General Manager Residential Development Victoria Elysa Anderson said Trielle had resonated strongly with buyers seeking a rare lifestyle offering in Melbourne.

“Opportunities to secure a new luxury residence on a riverfront site of this calibre are incredibly rare, particularly within a community like Yarra’s Edge,” Anderson said.

“What makes Trielle unique is the combination of exceptional views, world-class residential facilities and the lifestyle that already exists around it. Residents are buying into a mature waterfront community with parks, promenades, dining, wellness and strong community connections already in place.”

The 45-level tower brings a substantial new presence to that waterfront. Its residential offering spans one-, two-, three- and four-bedroom apartments, with Signature, Prestige and Sub-Penthouse collections accommodating different household sizes. The north-facing position connects the apartments visually to the river and city beyond.

Seven storeys above the promenade, the planned Oasis combines planting and a running stream with a Scandinavian-inspired wellness club developed with spa specialist Naomi Gregory. Facilities include a 25-metre lap pool, hot magnesium pool, sauna, hydrotherapy, a gym, yoga and Pilates room, and treatment spaces.

The amenity extends beyond exercise. Residents will have access to The Biblioteca library and workspaces, ground-floor work pods, and The Salone piano lounge. A private Chef’s Table dining room offers a setting for larger gatherings, while a cinema, games room and sports lounge broaden the entertaining options. Concierge services and a dog-wash area support everyday routines.

Trielle comprises a collection of one, two, three and four-bedroom residences. Reflecting strong demand from owner occupiers, approximately 80 per cent of purchasers to date intend to live in their homes, highlighting the project’s appeal to those seeking a long-term waterfront lifestyle.

Mirvac has recently delivered The Albertine, a premium apartment development on the edge of Melbourne’s CBD, and is nearing completion of Prince & Parade in Brunswick, further strengthening its portfolio of thoughtfully designed apartment communities in some of Melbourne’s most sought-after urban locations.

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