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
Australia is in the midst of a rental crisis, with weekly rents rising 30% over 38 consecutive months
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.
Auburn $648 pw
South Granville $657 pw
Granville $673 pw
Regents Park $675 pw
Sefton $676 pw
Berala $486 pw
Wiley Park $491 pw
Punchbowl $498 pw
Lakemba $501 pw
Regents Park $509 pw
Albanvale $441 pw
Laverton $441 pw
Broadmeadows $441 pw
Kings Park $442 pw
Ardeer $443 pw
Albion $366 pw
St Albans $398 pw
Deer Park $406 pw
Kingsville $411 pw
Thomastown $420 pw
Woodridge $501 pw
Inala $503 pw
Ellen Grove $523 pw
Darra $526 pw
Rocklea $544 pw
Woodridge $352 pw
Rochedale South $436 pw
Strathpine $446 pw
Brendale $459 pw
Alexandra Hills $468 pw
Salisbury $473 pw
Braham Lodge $475 pw
Salisbury Downs $478 pw
Paralowie $498 pw
Taperoo $502 pw
Salisbury East $361 pw
Salisbury $378 pw
Kilburn $397 pw
Klemzig $402 pw
St Marys $403 pw
Girrawheen $491 pw
Gosnells $501 pw
Midland $503 pw
Middle Swan $518 pw
Koondoola $519 pw
Midland $433 pw
Gosnells $441 pw
Noranda $445 pw
Hamilton Hill $457 pw
Coolbellup $462 pw
Bridgewater $485 pw
Midway Point $501 pw
Chigwell $501 pw
Claremont $509 pw
Berridale $516 pw
Claremont $411 pw
West Moonah $422 pw
Glenorchy $431 pw
Lindisfarne $456 pw
New Town $463 pw
Higgins $597 pw
Scullin $598 pw
Page $599 pw
Charnwood $599 pw
Holt $599 pw
Lyons $468 pw
Chifley $494 pw
Hawker $501 pw
Mawson $528 pw
Gungahlin $529 pw
Moulden $539 pw
Gray $549 pw
Driver $564 pw
Woodroffe $587 pw
Bakewell $591 pw
Bakewell $457 pw
Leanyer $468 pw
Coconut Grove $475 pw
Millner $478 pw
Rapid Creek $494 pw
On the owner’s deck, a 20-metre swimming pool incorporates Feadship’s patented ContraWave technology and extends indoors as a suspended, glass-bottomed infinity pool.
Automobili Lamborghini is turning its attention to something considerably more difficult to define: what makes Italian excellence uniquely Italian?
Mirvac’s 45-level Trielle has topped out at Yarra’s Edge, pairing riverfront apartments with wellness facilities, private dining and resident services.
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.
As the season turns, Handpicked Wines’ latest Pinot Noir and Chardonnay releases reveal how subtle shifts in place shape what ends up in the glass.
Borrowers cannot control the Reserve Bank, but they can control how exposed their household budget is to its next decision. The RBA meets on 29 September with inflation concerns still elevated and major-bank economists increasingly bringing forward their rate-rise calls. Fixed mortgage rates have also been moving, reducing the value of waiting for perfect certainty. …
Continue reading “What mortgage holders should do before the next RBA decision”