Real Estate Investment:Today

Rental market shortages deepen over May

Shortages in capital city rental markets have deepened over May with already low vacancy rates continuing to fall and high rents still rising strongly.

The national weekly median asking house rent has now increased by 16.8% over the past year to $537, with the April house vacancy rate steady at 1.2%.

Median asking rents for houses

All capitals continue to report significant increases in monthly asking house rents over the year ending May 2022, with Sydney still clearly the highest up 25.8% followed by Adelaide higher by 13.6% and Melbourne now up 11.8%.

Vacancy rates for houses remain generally at record low levels with only Canberra, Sydney and Melbourne remarkably above 1.0% but below 2% – and still falling.

Canberra continues to report the highest capital city weekly house rents steady at $700 over the month followed by Sydney rising sharply to $650 and Darwin at $620.

Brisbane continues to report the most affordable weekly house rents but is now higher over May to $460.

Median asking rents for units

Median Asking Rents Units May 2022

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