Top 20 suburbs where rent is tipped to rise next

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on May 19, 2022 Fact Checked
Top 20 suburbs where rent is tipped to rise next

The quarterly Tenant Report from moving platform Hood.ai revealed the top 20 suburbs where rents could rise soon.

The report is based on data collected from property research firm Suburbtrends which revealed in all the suburbs identified in the top 20, rents have increased at least 33% during the past 12 months.

Vacancy rates are under 1% and in some cases at 0% in all 20 suburbs.

Hood.ai founder and CEO Tommy Fraser said this report highlights the issue of rental affordability, which has received plenty of coverage throughout the federal election campaign.

“Traditionally, when renters get priced out of an area, they tend to shift to a cheaper suburb nearby, but that’s become increasingly hard in the current market, which is forcing tenants to move even further in search of affordable accommodation," Mr Fraser said. 

“If you live in any of the suburbs mentioned in this report, take note, because there’s a strong chance your landlord will increase your rent at the next rental review.”

The report features suburbs spread primarily across regional locations, with only three lying within capital cities.

New South Wales recorded the highest number with eight suburbs, while Tasmania, South Australia and the Australian Capital Territory did not make the list. 

Top 20 suburbs tipped to increase rent

Rank Suburb Property Type Median Weekly Rent Annual Rent Increase
1 Bogangar, NSW, 2488 Unit $650 52.9%
2 Burrum Heads, QLD, 4659 House $500 51.5%
3 Avoca, QLD, 4670 Unit $330 50.0%
4 Hastings Point, NSW, 2489 Unit  $650 47.7%
5 Paradise Point, QLD, 4216 House $745 47.5%
6 Leeming, WA, 6149 Unit $450 45.2%
7 Tarrawanna, NSW, 2518 House $750 44.2%
8 Colo Vale, NSW, 2575 House $600 42.9%
9 Brunswick Heads, NSW, 2483 House $795 42.0%
10 Howard Springs, NT, 0835 House $695 41.8%
11 Beechboro, WA, 6063 Unit $380 40.7%
12 Cooma, NSW, 2630 Unit $330 40.4%
13 Kambalda West, WA, 6442 House $280 40.0%
14 Sussex Inlet, NSW, 2540 Unit $415 38.3%
15 Chelmer, QLD, 4068 House $685 37.0%
16 Kahibah, NSW, 2290 House $600 36.4%
17 Rochester, VIC, 3561 House $380 35.7%
18 Chuwar, QLD, 4306 House $430 34.4%
19 Quindalup, WA, 6281 House $670 34.0%
20 Pomoma, QLD, 4568 House $600 33.3%

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Jacob Cocciolone joined the Savings team in 2021 as a Finance Journalist. Driven by a passion for keeping Australians up to date with the latest financial news and trends, his areas of interest include financial technology, investing, property and motoring.

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