Rental affordability has improved in some Australian suburbs, but it doesn't mean property seekers will be able to find a rental.
Skyrocketing rental prices experienced over the past few years have made it increasingly difficult for renters to find somewhere affordable to live.
However, there are a number of suburbs within the cities and regional areas of Australia that have actually seen weekly rental prices decrease in the past 12 months.
In the capital cities, roughly one in twenty suburbs have seen a price reduction in the past year, for house rentals.
| Suburb | Region | Median weekly rent | Year-on-year % change | Dollar decrease |
| Farrer ACT 2607 | Australian Capital Territory | $650 | -17.72% | -$140 |
| Forresters Beach NSW 2260 | Central Coast | $678 | -15.31% | -$123 |
| Erina NSW 2250 | Central Coast | $620 | -13.89% | -$100 |
| Red Hill ACT 2603 | Australian Capital Territory | $950 | -13.64% | -$150 |
| Telopea NSW 2117 | Sydney - Parramatta | $650 | -13.33% | -$100 |
| Elanora Heights NSW 2101 | Sydney - Northern Beaches | $1,050 | -12.50% | -$150 |
| Deakin ACT 2600 | Australian Capital Territory | $850 | -11.92% | -$115 |
| Sorrento VIC 3943 | Mornington Peninsula | $850 | -10.53% | -$100 |
| Lyons ACT 2606 | Australian Capital Territory | $650 | -9.72% | -$70 |
| Sutherland NSW 2232 | Sydney - Sutherland | $700 | -9.09% | -$70 |
Farrer, in the nation's capital, has seen the median weekly rental price decrease by 17.7% in the past 12 months, a huge $140 a week decrease.
Three other Canberra suburbs have also made it onto the top 10 list, Red Hill, Deakin, and Lyons and 44% of the city's suburbs have seen a decrease in weekly rents in the past year.
However, many of these suburbs have one thing in common; they have very few rentals available.
Farrer currently has just two houses for rent on realestate.com.au and Red Hill has three.
| Suburb | Region | Median weekly rent | Year-on-year % change | Dollar decrease |
| Booker Bay NSW 2257 | Central Coast | $500 | -12.28% | -$70 |
| Avoca Beach NSW 2251 | Central Coast | $650 | -11.62% | -$86 |
| Denman Prospect ACT 2611 | Australian Capital Territory | $575 | -6.50% | -$40 |
| Terrigal NSW 2260 | Central Coast | $660 | -5.71% | -$40 |
| Coolalinga NT 0839 | Darwin | $450 | -5.26% | -$25 |
| Long Jetty NSW 2261 | Central Coast | $460 | -4.17% | -$20 |
| Howrah TAS 7018 | Hobart | $465 | -4.12% | -$20 |
| East Gosford NSW 2250 | Central Coast | $500 | -3.85% | -$20 |
| Moncrieff ACT 2914 | Australian Capital Territory | $618 | -3.52% | -$23 |
| Sandy Bay TAS 7005 | Hobart | $475 | -3.06% | -$15 |
Booker Bay, has seen weekly rents decrease by 12.28%, a $70 decrease per week; however, does not currently have any units for rent.
Many regional suburbs have also seen an easing in the median weekly rental price, with one in ten suburbs experiencing a year-on-year decrease in weekly rents.
| Suburb | Region | Median weekly rent | Year-on-year % change | Dollar decrease |
| Shellharbour NSW 2529 | Illawarra | $670 | -13.27% | -$103 |
| Aroona QLD 4551 | Sunshine Coast | $700 | -12.50% | -$100 |
| Surfers Paradise QLD 4217 | Gold Coast | $1,300 | -11.71% | -$173 |
| Manifold Heights VIC 3218 | Geelong | $450 | -10.00% | -$50 |
| Corrimal NSW 2518 | Illawarra | $600 | -9.09% | -$60 |
| Sandy Beach NSW 2456 | Coffs Harbour - Grafton | $600 | -9.09% | -$60 |
| Katherine East NT 0850 | Northern Territory - Outback | $500 | -9.09% | -$50 |
| Harrington NSW 2427 | Mid North Coast | $450 | -8.16% | -$40 |
| Ocean Shores NSW 2483 | Richmond - Tweed | $800 | -8.05% | -$70 |
| Balgownie NSW 2519 | Illawarra | $600 | -7.69% | -$50 |
Suburbs in regional NSW make up the majority of the top 10 suburbs with the largest weekly decrease in rents, with Shellharbour, in the Illawarra region, taking the top spot at -13.27%.
Currently there are only four houses for rent in Shellharbour.
| Suburb | Region | Median weekly rent | Year-on-year % change | Dollar decrease |
| Warilla NSW 2528 | Illawarra | $360 | -24.21% | -$115 |
| Lake Cathie NSW 2445 | Mid North Coast | $380 | -13.64% | -$60 |
| Corrimal NSW 2518 | Illawarra | $435 | -13.00% | -$65 |
| Barrack Heights NSW 2528 | Illawarra | $420 | -12.50% | -$60 |
| Beerwah QLD 4519 | Sunshine Coast | $450 | -10.00% | -$50 |
| Woonona NSW 2517 | Illawarra | $498 | -9.55% | -$53 |
| Barney Point QLD 4680 | Central Queensland | $300 | -9.09% | -$30 |
| Peregian Beach QLD 4573 | Sunshine Coast | $600 | -7.69% | -$50 |
| Swan Hill VIC 3585 | North West | $260 | -7.14% | -$20 |
| Evans Head NSW 2473 | Richmond - Tweed | $400 | -6.98% | -$30 |
Suburbs in the Illawarra region of NSW made up four of the top ten suburbs for unit rent decreases, and all have a limited number of properties for rent.
Warilla, a neighbouring suburb of Shellharbour, has experienced a weekly rental decrease of 24.21%, which equates to a reduction of $115 per week in savings.
In Warilla, there is currently only one unit for rent in the whole suburb.
This could be driving renters to different regions or cities where the number of available properties are higher, or driving renters into share accommodation.
