The 20 Australian suburbs where rent hikes are imminent

HOOD.ai’s report outlines the 20 Australian suburbs where tenants can expect a likely rent hike when they next review, adding to the already significant financial pressure many are currently under.

All of the suburbs included in the report have seen their rents increase by at least 33% in the past 12 months, well above the national average of 9%. In addition, vacancy rates in all of these suburbs are below 1% and in some cases are as low as 0%.

It should be noted that a vacancy rate of 0% does not mean that the suburb has no rental stock available. Rather, it means that all listed rental properties are filled within 21 days, as a property is officially declared vacant once it has been on the market for 21 days or more.

The suburbs are spread across five states and territories. Eight are in New South Wales; Queensland and Western Australia have six and four respectively, while Victoria and the Northern Territory have one each.

A further breakdown of suburbs indicates that 17 of the 20 are in regional localities, with 13 being housing markets and seven unit markets included in the report.

Units in the town of Bogangar on the NSW North Coast saw a 52.9% increase in median rents in the 12 months to May 2022. This represents the largest median increase in rents among the listed unit markets. Nearby Hastings Point saw a 4.4% drop in vacancy rates, the biggest drop of any reported unit market.

The picture isn’t much different for house rental prices, with Queensland’s Burrum Heads reporting the biggest increase in median weekly rents – having soared 51.5% in the 12-month period between June 2021 and May 2022.

When it comes to rental vacancy rates, the City of Brunswick Heads has seen the biggest decline, with home vacancy rates down 2.5% in the 12 months to May 2022.

HOOD.ai founder and chief executive Tommy Fraser said as vacancy rates continued to fall, upward pressure on rents would make it increasingly difficult for Australians to find accommodation .

“Traditionally, when tenants get sold out of an area, they tend to move to a cheaper suburb nearby, but that is becoming increasingly difficult in today’s market, forcing tenants to move even further in search of affordable housing.

“If you live in one of the suburbs mentioned in this report, take note, because there’s a good chance your landlord will raise your rent at the next rent review,” Fraser said.

The top 20 suburbs where rents are expected to rise are:

  1. Bogangar, Tweed Valley, New South Wales (Units)

May 2021: $425 (vacancy rate: 1.4%)

May 2022: $650 (Vacancy rate: 0.5%)

Rents increased by 52.9%

  1. Burrum Heads, MaryboroughMaryborough, QLD Maryborough, VICQueensland (Houses)

May 2021: $330 (vacancy rate: 1.9%)

May 2022: $500 (vacancy rate: 0.9%)

Rents increased by 51.5%

  1. LawyerAvoca, VIC Avoca, QLDBundaberg, Queensland (Units)

May 2021: $220 (vacancy rate: 0.8%)

May 2022: $330 (vacancy rate: 0.4%)

Rents have increased by 50%

  1. Hastings Point, Tweed Valley, New South Wales (Units)

May 2021: $440 (vacancy rate: 4.4%)

May 2022: $650 (vacancy rate: 0%)

Rents increased by 47.7%

  1. Paradise Point, Gold Coast North, Qld (Houses)

May 2021: $505 (vacancy rate: 0.9%)

May 2022: $745 (vacancy rate: 0.7%)

Rents increased by 47.5%

  1. Leeming, Melville, WA (units)

May 2021: $310 (vacancy rate: 1.7%)

May 2022: $450 (vacancy rate: 0.4%)

Rents increased by 45.2%

  1. Tarrawanna, Wollongong, NSW (Houses)

May 2021: $520 (vacancy rate: 1.5%)

May 2022: $750 (vacancy rate: 0%)

Rents increased by 44.2%

  1. Colo Vale, Southern Highlands, NSW (Houses)

May 2021: $420 (vacancy rate: 1.4%)

May 2022: $600 (vacancy rate: 0%)

Rent increase: 42.9%

  1. Braunschweig Chiefs, richmondRichmond, SA Richmond, VIC Richmond, NSW Richmond, TAS Richmond, NSW Valley, NSW (House)

May 2021: $560 (vacancy rate: 3.1%)

May 2022: $795 (vacancy rate: 0.6%)

Rent increase: 42.9%

  1. Howard Springs, Litchfield, Northwest Territories (Houses)

May 2021: $490 (vacancy rate: 2.2%)

May 2022: $695 (vacancy rate: 0%)

Rents increased by 41.8%

  1. Beechboro, Swan, WA (Units)

May 2021: $270 (vacancy rate: 3.2%)

May 2022: $380 (vacancy rate: 0.4%)

Rents increased by 40.7%

  1. Cooma, Snowy Mountains, NSW (Units)

May 2021: $235 (vacancy rate: 1%)

May 2022: $330 (vacancy rate: 0.6%)

Rent increase: 40.4%

  1. Kambalda West, Goldfields, WA (Houses)

May 2021: $200 (vacancy rate: 2.4%)

May 2022: $280 (vacancy rate: 0.6%)

Rents have increased by 40%

  1. Sussex Inlet, Shoalhaven, New South Wales (units)

May 2021: $300 (vacancy rate: 1.2%)

May 2022: $415 (vacancy rate: 0.6%)

Rents increased by 38.3%

  1. Chelmer, Indooroopilly, Qld (Houses)

May 2021: $500 (vacancy rate: 1.5%)

May 2022: $685 (vacancy rate: 0.7%)

Rent increase: 37%

  1. Kahibah, Lake Macquarie, NSW (Houses)

May 2021: $440 (vacancy rate: 0.7%)

May 2022: $600 (vacancy rate: 0%)

Rents increased by 36.4%

  1. Rochester, Campaspe, Vic (Houses)

May 2021: $280 (vacancy rate: 1.9%)

May 2022: $380 (vacancy rate: 0%)

Rents increased by 35.7%

  1. ChuwarChuwar, QLD Chuwar, QLDInner Ipswich, Qld (Houses)

May 2021: $320 (vacancy rate: 1.6%)

May 2022: $430 (vacancy rate: 0%)

Rent increase: 34.4%

  1. Quindalup, Margaret River, WA (Houses)

May 2021: $500 (vacancy rate: 2.3%)

May 2022: $670 (Vacancy rate: 0%)

Rents have increased by 34%

  1. Pomona, Noosa, Queensland (House)

May 2021: $450 (vacancy rate: 1.3%)

May 2022: $600 (vacancy rate: 0%)

Rents increased by 33.3%

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The 20 Australian suburbs where rent hikes are imminent



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Last update: May 19, 2022

Posted: May 20, 2022