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The Guardian - AU
The Guardian - AU
National
Cait Kelly Inequality reporter

Australia’s steepest and longest rental surge in history may be nearing end, figures show

Australia Domain Brisbane Nicola Powell Melbourne Sydney Adelaide Perth
A rent sign outside a house in Canberra
Despite the slowdown in rental growth, tenants still face record-high asking rents across all capitals except Brisbane and Canberra, and for units in Hobart. Photograph: AAP

Annual rent increases for houses have hit multi-year lows in Sydney, Melbourne, Brisbane, Perth and Adelaide, suggesting a relentless stretch of rising rents may have peaked, a new report has found.

Renters are still feeling the pinch from record high prices but the data in Domain’s Rent Report revealed the lowest September quarter growth rate since 2019 for houses and 2020 for units.

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