20 Regions Where Rents Will Continue Surging in 2024

Australia’s rental crisis is showing signs of easing: SQM data shows that the average asking rents in the capital cities fell 0.5% in May, the largest percentage monthly decline in more than four years, and CoreLogic’s national rental index rose 0.7% in May, the lowest monthly change since December 2023.

However, an eased crisis is still a crisis. In fact, it is far from over.

In the 12 months to May 2024, Australian SA3 regions’ rental prices increased by 10.8% on average, only slightly lower than the 11.1% annual growth last year.

The InvestorKit research team reviews the rental market pressure across Australia’s 300+ SA3 regions each year to monitor the country’s rental market dynamics. This year, we present to you 5 Greater Capital Cities and 15 regions where there are clear signs that the rents will continue to surge by a total of $2,600 to $3,900 per region in the coming 12 to 24 months.

For each of the regions, we go through their rental demand & supply indicators, long-term and short-term market pressure, and rental price trends. Click the button below to meet the 20 regions!

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