The 5-Year Rental Trends Report provides an in-depth analysis of long-term shifts in Australia’s rental markets, tracking changes in median rental prices for both houses and units across all SA3 regions. Grounded in the Australian Bureau of Statistics’ SA3 standards, the report compares rental data over a five-year period to capture enduring market trends rather than short- term fluctuations.
5 Year Rental Trends - Report Highlights
Housing
In the housing market, several regions have experienced significant increases in median rents over the five-year period, notably in WA, which has seen 19 of the top 20 increases, with Armadale (103% change), West Pilbara (100%) and Gascoyne (100%) taking out the top three spots. This highlights robust local demand driven by economic activity and population shifts. Many regional areas in QLD, VIC, NSW, SA, NT and TAS also registered solid growth, with QLD’s Gladstone identifying an 84% increase. These diverse trends underscore that local market fundamentals – including supply constraints, economic resilience and infrastructure investments – play a pivotal role in shaping rental dynamics.
Unit
In the unit market, metropolitan centres continue to lead, but regional areas are also showing noteworthy performance. In WA’s Armadale, median rents for units saw a 120% increase, from $250 to $550, whilst ACT’s Canberra East identified arise from $300 to $650, an impressive 117% jump. Regional unit markets in WA further illustrate this momentum; Kwinana recorded an increase from $210 to $440 and East Pilbara experienced a rise from $325 to $670, about a 106% increase. Variability remains evident as certain areas, such as Mundaring, experienced a contraction, highlighting that not all regions share the same upward trajectory.
Overall, these findings illustrate a broad doubling of median rents in many areas over five years. While capital cities benefit from concentrated economic activity and investment, regional markets are also adapting swiftly, albeit with varying performance.
Investors and stakeholders are advised to assess local market fundamentals closely, recognising that the diverse rental landscape demands a tailored approach to strategic decision-making in Australia’s evolving property market.