Extent of rental crisis revealed as rents skyrocket by up to $600 a week
Sydneysiders have been hit with the biggest rent increases over the past year.
Aussies around the country are struggling to keep up with insane rent increases but some suburbs are feeling the pain more than others.
New data from PropTrack unveiled the suburbs where rents had spiked in the past year as supply constricted and demand intensified.
As rental supply remains tight across the country, some suburbs have seen rent hikes in excess of $600 a week.
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Sydney suburbs saw the largest spikes in median rental prices nationally, as demand for rentals continued to far outstrip supply.
The suburbs that saw Sydneysiders bearing the brunt of the biggest increases in median house rents included:
Clovelly – $633 increase in median house rent to sit at $1,995
Rose Bay – $600 increase in median house rent to sit at $2,000
Middle Cove – $525 increase in median house rent to sit at $1,700
Sydney was also home to the suburbs that saw the biggest hikes in unit rents, with those increasing the most in:
Caringbah South – $230 increase in median unit rent to sit at $980
Eveleigh – $208 increase in median unit rent to sit at $838
Millers Point – $180 increase in median unit rent to sit at $840
Top 10 suburbs where renting a house increased the most:
Clovelly, NSW - current median weekly rent $1,995, up $633
Rose Bay, NSW - current median weekly rent $2,000, up $600
Middle Cove, NSW - median weekly rent $1,700, up $525
Surfers Paradise, QLD - median weekly rent $1,475, up $430
Paradise Point, QLD - median weekly rent $1,275, up $425
Clear Island Waters, QLD - median weekly rent $1,400, up $400
Riverview, NSW - median weekly rent $1,450, up $400
Double Bay, NSW - median weekly rent $2,000, up $400
Vaucluse, NSW - median weekly rent $2,995, up $395
Balmain East, NSW - median weekly rent $1,400, up $375
Top 10 suburbs where renting a unit increased the most:
Caringbah South, NSW - median weekly rent $980, up $230
Eveleigh, NSW - median weekly rent $838, up $208
Millers Point, NSW - median weekly rent $840, up $180
Haymarket, NSW - median weekly rent $840, up $180
South Granville, NSW - median weekly rent $443, up $163
Soldiers Point, NSW - median weekly rent $550, up $163
Banksia Beach, QLD - median weekly rent $610, up $160
Sylvania, NSW - median weekly rent $650, up $150
Zetland, NSW - median weekly rent $780, up $150
Glendale, NSW - median weekly rent $450, up $150
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