Australia is currently in the midst of a rental crisis with few signs of improvement.
The shortage of available rental properties has lead to record high demand and a significant increase in weekly median rents, making them unaffordable for many.
With a limited number of available properties and a large pool of potential renters, properties are being leased quickly.
In June, houses for rent in Coogee, Perth, were leased in just eleven days. This is 47 days faster than in Sorrento, Melbourne, which had the longest days on market at 58 days.
| Rank | Suburb | Median days on market |
| 1 | Coogee WA 6166 | 11 |
| 2 | Heathcote NSW 2233 | 11 |
| 3 | Hurlstone Park NSW 2193 | 12 |
| 4 | Engadine NSW 2233 | 12 |
| 5 | Menai NSW 2234 | 12 |
| 6 | Lake Coogee WA 6166 | 13 |
| 7 | Narraweena NSW 2099 | 13 |
| 8 | Coolbellup WA 6163 | 13 |
| 9 | Cromer NSW 2099 | 13 |
| 10 | Emu Plains NSW 2750 | 13 |
Heathcote in Sydney also had an eleven-day median days on market period.
The combined capital city vacancy rate was a mere 1.13% in June, highlighting the severe shortage of properties to rent.
The competition among renters is fierce, resulting in houses and units being listed on realestate.com.au for only a short time.
Following Coogee and Heathcote, the top ten list includes Hurlstone Park, Engadine, and Menai in Sydney, with a median of 12 days on the market.
Only suburbs in Sydney and Perth were in the top ten for the shortest days on market for houses. But, Thorneside was the top suburb in Queensland with 13 days on market.
Richmond in Adelaide ranks at number 22 with 14 days on market, while rental houses in Notting Hill in Melbourne also lasted just 14 days on market.
Units are being leased even faster than houses in many suburbs.
| Rank | Suburb | Median days on market |
| 1 | Dee Why NSW 2099 | 9 |
| 2 | Cromer NSW 2099 | 10 |
| 3 | Balgowlah NSW 2093 | 10 |
| 4 | Bateau Bay NSW 2261 | 10 |
| 5 | Gosnells WA 6110 | 10 |
| 6 | Manly Vale NSW 2093 | 10 |
| 7 | Narrabeen NSW 2101 | 10 |
| 8 | Brookvale NSW 2100 | 11 |
| 9 | Collaroy NSW 2097 | 11 |
| 10 | Engadine NSW 2233 | 11 |
Dee Why tops the list at nine days on market, with Cromer also seeing high demand and units going in ten days.
The top ten suburbs with the shortest days on market for units are all in Sydney, except for Gosnells in Perth.
Capalaba is Brisbane's fastest leasing suburb, while units in Black Forest, Adelaide, are being snapped up in just 13 days.
The scarcity of rental properties in many suburbs puts immense pressure on renters to act quickly and secure leases. Renters must be well-organized, arrive at open houses with their applications completed, and have all paperwork in order to ensure they are accepted as quickly as possible.
The Australian rental market is experiencing an unprecedented crisis, with a severe shortage of available properties driving up demand and prices. Renters need to be proactive and prepared to navigate this competitive landscape successfully.
