A new study by RentRabbit.com.au found that there were fewer than 50 suburbs in the entire country that meet the tenant-friendly criteria.
RentRabbit.com.au co-founder Ben Pretty said it is a growing concern that there are so few suburbs in Australia that are in favour of tenants.
“Throughout much of Australia, the data shows that vacancy rates are low, vacancy rates are falling, and rents are rising,” Mr Pretty said.
“Thankfully, though, there are some markets where vacancy rates are increasing and rents are decreasing, which means tenants aren’t completely out of options.”
Mr Pretty said the tight rental conditions are likely to continue and would pose further concerns to tenants.
“Now that the international border has reopened, our population growth is likely to return to pre-pandemic levels — unless we see a corresponding increase in the supply of rental properties, the number of tenant-friendly suburbs is likely to decrease,” he said.
RentRabbit.com.au identified 20 suburbs across Australia where conditions are tenant friendly.
The suburbs in the list have at least 1,000 available rental properties, are within close proximity to CBDs, and had vacancy rates increase by at least 0.5% over the past year.
These suburbs also maintained or even witnessed a decline in median weekly rents.
Eight suburbs are in New South Wales, while the rest are in Victoria (4), Queensland (3), Western Australia (3), South Australia (1) and the ACT (1).
All suburbs in the list had a vacancy rate of at least 2.0% over the past year and weekly rents ranging from $225 to $1,500.
Most tenant-friendly suburbs in Australia |
||||
|
State |
Suburb |
Property type |
Vacancy rate (1 year ago) |
Vacancy rate (now) |
|
WA |
Coolbinia |
Unit |
0.0%* |
7.0% |
|
VIC |
Essendon West |
Unit |
0.0%* |
3.9% |
|
VIC |
Barwon Heads |
House |
2.6% |
5.9% |
|
NSW |
Prairiewood |
House |
1.0% |
4.1% |
|
WA |
Gwelup |
House |
0.0%* |
2.9% |
|
VIC |
Bellfield |
Unit |
0.9% |
3.5% |
|
NSW |
Castlecrag |
House |
1.2% |
3.7% |
|
NSW |
Beacon Hill |
Unit |
0.5% |
2.7% |
|
NSW |
North Narrabeen |
Unit |
0.6% |
2.5% |
|
VIC |
Nagambie |
Unit |
2.6% |
4.4% |
|
QLD |
Russell Island |
Unit |
1.7% |
3.5% |
|
WA |
Mullaloo |
Unit |
1.1% |
2.7% |
|
NSW |
Speers Point |
Unit |
2.0% |
3.5% |
|
NSW |
Putney |
Unit |
2.2% |
3.7% |
|
ACT |
Deakin |
House |
2.9% |
4.4% |
|
NSW |
Windang |
Unit |
0.7% |
2.0% |
|
NSW |
Tempe |
Unit |
1.8% |
3.1% |
|
SA |
Henley Beach South |
House |
1.3% |
2.5% |
|
QLD |
Heathwood |
Unit |
1.8% |
3.0% |
|
QLD |
Robertson |
Unit |
1.5% |
2.6% |
—
Photo by @thoughtcatalog on Unsplash
