The best suburbs for renters from $225 per week
It’s tough for renters around the country, with prices climbing and fewer properties on the market but there are still some safe havens for tenants.
And while tenant-friendly suburbs still exist, they're becoming harder to find, according to the RentRabbit Better Renting Report.
The quarterly report identified Australia's top 20 suburbs where conditions have actually turned in favour of renters over the past 12 months.
Also read: 20 suburbs rents are set to rise: ‘Your landlord will hike’
Also read: Top 17 suburbs to rent close to the CBD from $265 a week
For suburbs to be considered tenant-friendly, they needed to be large enough (at least 1,000 properties) and close enough to the nearest capital city CBD (within 250km).
Vacancy rates also needed to show an increase of at least 0.5 per cent in the past year and rent prices needed to have either fallen or stayed the same.
This quarter, fewer than 50 suburbs in the entire country met all the criteria.
The suburbs were then ranked based on how much their vacancy rate had increased compared to 12 months earlier.
The suburbs were spread around New South Wales (8), Victoria (4), Queensland (3),
Western Australia (3), South Australia (1) and the ACT (1).
All the suburbs had a vacancy rate of at least 2 per cent, while weekly rents ranged from $225 to $1,500.
RentRabbit co-founder Ben Pretty said it was a real concern that there were so few tenant-friendly suburbs in Australia right now.
“Throughout much of Australia, the data shows that vacancy rates are low, vacancy rates are falling and rents are rising,” he 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.”
Pretty said that despite there being some good opportunities for renters, he was concerned about the future.
“Now that the international border has reopened, our population growth is likely to return to pre-pandemic levels,” he said.
“Unless we see a corresponding increase in the supply of rental properties, the number of tenant-friendly suburbs is likely to decrease.”
Here are the top 20 suburbs for renters and their medium weekly rent price.
Coolbinia, WA - $510 per week
Essendon West, VIC - $435 per week
Barwon Heads, VIC - $600 per week
Prairiewood, NSW - $470 per week
Gwelup, WA - $650 per week
Bellfield, VIC - $490 per week
Castlecrag, NSW - $1,500 per week
Beacon Hill, NSW - $480 per week
North Narrabeen, NSW - $520 per week
Nagambie, VIC - $230 per week
Russell Island, QLD - $225 per week
Mullaloo, WA - $590 per week
Speers Point, NSW - $450 per week
Putney, NSW - $580 per week
Deakin, ACT - $820 per week
Windang, NSW - $320 per week
Tempe, NSW - $320 per week
Henley Beach South, SA - $680 per week
Heathwood, QLD - $400 per week
Robertson, QLD - $365 per week
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