The ongoing rental crisis across the nation persists, presenting challenges for renters in their quest to find a home.
Certain regions are struggling more than others, with their limited availability of rental properties, heightened demand, and soaring prices.
In many urban areas, demand surpasses supply, leading to a scarcity of available rentals.
This situation is exacerbated in regions where demand is particularly high and the number of available properties is disproportionately low. Moreover, these areas witness sharper increases in rental prices compared to others.
Recent data from realestate.com.au highlights Perth's North East as the toughest rental market in Australia's capital cities.
Home to suburbs such as Bayswater, Glen Forest, and Stoneville, Perth's North East had an average of 60 enquiries per listing in March 2024, the highest number in the country.
| Rank | Regions | Average enquiries per listing | Vacancy rate | YoY % growth in median rent |
| 1 | Perth - North East | 60 | 0.69% | 21.2% |
| 2 | Adelaide - North | 47 | 0.69% | 15.6% |
| 3 | Perth - South East | 58 | 0.74% | 21.2% |
| 4 | Melbourne - Outer East | 43 | 0.74% | 12.0% |
| 5 | Perth - North West | 56 | 0.77% | 18.2% |
| 6 | Adelaide - West | 41 | 0.80% | 14.0% |
| 7 | Perth - South West | 42 | 0.89% | 17.0% |
| 8 | Melbourne - North East | 42 | 0.98% | 15.6% |
| 9 | Melbourne - South East | 47 | 1.01% | 14.6% |
| 10 | Logan - Beaudesert | 43 | 1.08% | 10.0% |
Furthermore, the vacancy rate in this region sits at just 0.69%, indicating a severe scarcity of rental properties.
Over the past year, rental prices Perth's North East surged by a staggering 21%, reflecting the intense demand-supply imbalance.
Perth's South East, North West, and South West also grapple with similar challenges, featuring high enquiry rates and minimal vacancy rates, contributing to soaring rental prices.
Adelaide's North is another victim of the rental crisis, with an average of 47 enquiries per listing in March, further exacerbating the housing shortage.
In contrast, Canberra experienced significantly lower demand, with an average of only 12 enquiries per listing in March.
| Rank | Regions | Average enquiries per listing | Vacancy rate | YoY % growth in median rent |
| 1 | Australian Capital Territory | 12 | 1.7% | 0.0% |
| 2 | Hobart | 17 | 1.3% | -1.0% |
| 3 | Sydney - Northern Beaches | 17 | 1.5% | 12.5% |
| 4 | Sydney - North Sydney and Hornsby | 18 | 1.9% | 8.3% |
| 5 | Sydney - Baulkham Hills and Hawkesbury | 18 | 1.8% | 9.7% |
| 6 | Sydney - Ryde | 19 | 1.4% | 7.7% |
| 7 | Sydney - Eastern Suburbs | 19 | 1.3% | 11.8% |
| 8 | Sydney - City and Inner South | 19 | 1.3% | 9.4% |
| 9 | Sydney - Sutherland | 21 | 0.9% | 13.6% |
| 10 | Brisbane - West | 22 | 1.2% | 8.9% |
Similarly, regions like Hobart and certain affluent areas of Sydney, such as the Northern Beaches and Baulkham Hills and Hawkesbury, had lower enquiry rates, higher vacancy rates, and consequently, lower rental price growth.
Notably, the regions facing the most acute rental crisis tend to be situated further from city centres.
This shows that the rental crisis is not just affecting the inner city markets, but has branched out into the outer capital city regions.
While current market conditions may seem advantageous for property owners, the lack of incentives to attract new investors contributes to the shortfall of available rental properties.
Addressing the rental crisis requires urgent measures to increase the availability of affordable housing in urban areas. By implementing policies that incentivise investment in rental properties and promote the construction of affordable housing, the strain on renters can be reduced and stabilise skyrocketing rents.
