The quarterly RentRabbit.com.au Better Renting Report identifies Australia's top 20 suburbs within 200km of the capital city CBD and where vacancy rates have increased in the last 12 months.
All 20 suburbs featured have also seen median weekly rents fall or remain unchanged over the last year.
Victoria dominated the latest quarterly ranking, with 10 suburbs on the top 20 list, while New South Wales had seven and the ACT three.
RentRabbit.com.au co-founder Ben Pretty said the research shows up the two-tier nature of Australia’s rental market.
"The RentRabbit.com.au Better Renting Report highlights that renters are able to find tenant-friendly suburbs in Melbourne, Sydney and Canberra, but are really struggling to find suitable locations in Brisbane, Perth, Adelaide, Hobart and Darwin,” he said.
“This is all about supply and demand. Where supply is relatively low and demand relatively high, it’s hard for tenants to find accommodation, which leads to falling vacancy rates and rising rents.
“For the sake of families and people on average incomes, I’d like to see a more balanced rental market. For that to happen, supply needs to increase, which means we need more investors to enter the market and more new builds to come online.”
RentRabbit top 20 suburbs
|
Rank |
State |
Suburb |
Property type |
Vacancy rate (1 year ago) |
Vacancy rate (now) |
Vacancy rate (change) |
Median rent |
|
1 |
VIC |
Derrimut |
House |
1.2% |
10.3% |
9.2 percentage points |
$350 |
|
2 |
VIC |
Mount Duneed |
House |
2.4% |
7.1% |
4.7 percentage points |
$420 |
|
3 |
NSW |
West Pymble |
House |
1.8% |
5.5% |
3.7 percentage points |
$850 |
|
4 |
ACT |
Campbell |
Unit |
4.9% |
8.5% |
3.6 percentage points |
$550 |
|
5 |
ACT |
Hughes |
House |
0.8% |
4.1% |
3.3 percentage points |
$650 |
|
6 |
NSW |
Girraween |
Unit |
1.7% |
4.0% |
2.3 percentage points |
$450 |
|
7 |
NSW |
Heckenberg |
House |
0.0%* |
2.0% |
2.0 percentage points |
$380 |
|
8 |
VIC |
Coolaroo |
House |
3.0% |
5.0% |
2.0 percentage points |
$350 |
|
9 |
NSW |
Pendle Hill |
House |
2.6% |
4.5% |
1.9 percentage points |
$450 |
|
10 |
NSW |
Cabramatta West |
House |
2.1% |
3.9% |
1.8 percentage points |
$450 |
|
11 |
VIC |
Dingley Village |
Unit |
0.9% |
2.6% |
1.7 percentage points |
$450 |
|
12 |
NSW |
Berala |
Unit |
2.2% |
3.7% |
1.5 percentage points |
$320 |
|
13 |
ACT |
McKellar |
House |
1.5% |
3.0% |
1.5 percentage points |
$610 |
|
14 |
NSW |
Emu Plains |
Unit |
1.1% |
2.6% |
1.5 percentage points |
$420 |
|
15 |
VIC |
Bannockburn |
House |
1.5% |
2.9% |
1.4 percentage points |
$430 |
|
16 |
VIC |
Notting Hill |
Unit |
2.0% |
3.2% |
1.2 percentage points |
$350 |
|
17 |
VIC |
Campbellfield |
House |
1.9% |
3.1% |
1.2 percentage points |
$380 |
|
18 |
VIC |
Kingsville |
House |
1.4% |
2.6% |
1.2 percentage points |
$520 |
|
19 |
VIC |
Oak Park |
Unit |
2.7% |
3.7% |
1.0 percentage points |
$390 |
|
20 |
VIC |
Ivanhoe East |
House |
2.1% |
3.1% |
1.0 percentage points |
$650 |
To ensure suburbs were suitable for renters and conditions had turned in favour of renters over the past 12 months, suburbs were excluded if:
- There were fewer than 1,000 properties or rental properties made up less than 10% of the local housing stock
- There were fewer than 3 vacant rental properties
- They were in non-commutable locations (i.e more than 200km from the capital city
CBD) - The median weekly rent had increased over the past 12 months
- The vacancy rate had increased by less than 1 percentage point over the past 12
months
Image by Image4you via Pixabay
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