January, as realestate.com.au’s senior data analyst Karen Dellow (pictured above) noted, is the peak month for rental searches, with listings at their yearly maximum, PropTrack reported.
Despite this influx, securing affordable rentals remains a struggle for many due to soaring median weekly rents across most areas.
The national median has reached an unprecedented $620, escalating by 7.8% over the past year and 10.5% in five years.
The disparity in rental prices is stark between the urban centers and more remote areas.
While Sydney’s rentals peak at $730 weekly, more budget-friendly options thrive in the country’s interior.
Whyalla Stuart, located in South Australia’s rugged outback, boasts the most budget-friendly median house rent at $280. This industrial hub, despite its distance from Adelaide, offers significant savings on housing.
Other regional towns also present viable living options at lower costs.
In Tasmania, Queenstown has house rentals at $295, and in Queensland, Nebo offers homes for $300 weekly. South Australia’s Port Augusta and Whyalla Norrie echo this affordability.
For those preferring units, Cobar in New South Wales stands out with remarkably low rents at $200, with nearby towns like Deniliquin and Glen Innes not far behind.
Even within Australia's bustling metropolitan areas, economical rental options exist.
Greater Brisbane’s Russell Island features house rentals at just $400 per week. Melbourne’s Melton area offers similarly priced housing and cheaper units at $360.
Hobart and Perth provide more affordable alternatives with Gagebrook and Calista offering reasonable rents in a competitive market.
Sydney, known for its high rental prices, also harbors more accessible areas like Willmot and South Granville, where house and unit rentals are significantly lower than the city average.
PropTrack findings illustrate that affordable rentals can still be found with diligent searching, even in Australia’s costliest cities.
Knowing where to find these pockets of affordability is crucial for renters aiming to navigate a challenging market. Whether opting for the tranquility of the outback or the convenience of a capital city, affordable housing options are available for those who know where to look.
