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 saw the largest increase over the past quarter at +3.6%, followed by SA at +1.3% and TAS at +1.1%. All other states held steady at 0%. QLD’s Burnett and Granite Belt both saw the largest increases at +7.1%, with NSW’s Snowy Mountains rounding out the top three at +5.8%.
Unit market
- For the third month, WA identified the largest increase in regional rental medians over the past quarter at +4.2%, followed by VIC at +1.4%. All other states held at 0% change. QLD saw the four largest changes in median rental prices over the past quarter, with Coolangatta seeing the largest change at +7.1%, closely followed by Gladstone at +6.1%, Bundaberg at +5.3% and Cairns – South at +5%.
Vacancy rates
- All states saw increases in vacancy rates over the past three months, with TAS seeing the largest change at +2%, up from +1.3% last month. WA sat at +1.7%, VIC at +1.6%, SA at +1.5%, NSW at +1.4% and QLD at +1.2%. QLD’s Outback – North identified a -1.7% change over the past quarter, with a current vacancy rate of 2.9%. NSW’s Armidale saw a -1.4% change, with VIC’s Creswick – Daylesford – Ballan rounding out the top three at -1.3%.