DA NANG VILLA REALTY

What is the average rent in Australia in 2024?

Key Points

• The median rent for a house in Australian capital cities is $650 per week
• The median rent for a unit in Australian capital cities is $630 per week
• Combined capital city rents increased by 11.1% for houses over the 12 months to June 2024
• In regional Australia, the median rent for a house is $550 per week.

Whether you're looking at houses or units in capital cities or regional areas, rents across Australia have been rising at a rapid pace.

Data from Domain shows advertised rental prices for houses in Australia's capital cities surged 11.1% over the last year to June 2024, and 3.2% over the last quarter.

For regional renters, house rents increased 7.8% over the year to June 2024, and 1.9% over the quarter.

Why is rent going up in Australia?
Landlords have faced a lot of pressure to raise rents lately, primarily because Reserve Bank rate hikes and the higher cost of living in general make investment home loans more expensive.

There has also been a limited rental supply. There hasn't been enough construction of new homes, and an influx of new migrants and professionals moving back to the cities has lowered vacancy rates. With tight supply and heated demand, prices naturally rise.

Are you looking for buying luxurious property in Da Nang, Vietnam? Please feel free to contact us!

For investments, second homes, retirement, etc.

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Phone: +81-98-869-3575
Email: infovilla-property.com

https://www.danangvillarealty.com/