The IPN Regional Rent Index analyses the short-term fluctuations in house rental markets across regions in NSW, VIC, QLD, SA, WA, and TAS, excluding capital city areas.
Published monthly, the data is derived from advertised rentals for houses and is calculated over a rolling 12-month sample period. Metrics include median rents for both houses and units, and vacancy rates, all aggregated by the ABS standard known as Statistical Area 3 (SA3).
Regional Rent Index Report Highlights
Housing market
- WA’s Wheat Belt – North identified the largest change in rental medians over the past quarter at +8.3%, with NSW’s Great Lakes (+5.5%) and QLD’s Maroochy (+5.3%) rounding out the top three. Nationally, WA saw an increase of +3.5%, SA at +2.6% and TAS at +2.3%. NSW, VIC and QLD all held steady with no change over the past three months.
Unit market
- June saw a shift in regional rental medians for units. Nationally, WA had seen the largest change over the previous 3 months, however, in June, WA held steady at 0% change, along with TAS and VIC. Interestingly SA identified the largest increase at 3.6%, followed by QLD at +1.8% and NSW at +1.1%. Looking at each region, it was SA’s Eyre Peninsula and South West that saw the largest 3-month change at +11.1%, with WA’s Cockburn (+10%) and WA’s Fremantle (+8.3%) rounding out the top three.
Vacancy rates
- All states saw increases in vacancy rates over the past three months, with TAS and WA seeing the largest changes at +1.7%, with VIC at +1.6%, SA at +1.5%, NSW at +1.3% and QLD at +1%. NT’s Barkly identified a -3.1% shift over the past quarter, with the South East Coast in TAS seeing a -2.2% change, followed by WA’s East Pilbara at -1.3%.