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Australia news live: rental vacancies at record low in most big cities and prices rising
TL;DR
Australia's rental market is experiencing record low vacancies at 0.7%, with median rents rising to $680 for houses and $675 for units. The increase in rental prices is attributed to tight supply, especially in major cities like Sydney and Perth.
Key points
- National vacancy rate at record low of 0.7%
- Median rent for houses is $680 per week
- Median rent for units is $675 per week
- Sydney's vacancy rate is 0.6%, Perth's is 0.3%
- Melbourne's vacancy rate is 1%, down from 1.6%
Figures from Domain show that the rental market is tighter than ever, adding $25 a week to the typical advertised rent price.
Median rents in capital cities have climbed to $680 a week for houses and $675 for units. Price growth had slowed in 2025 but has now picked up in most cities.
The national vacancy rate is at a record low 0.7%, with levels of vacant rental stock at record lows in Sydney (0.6%), Perth (0.3%), and Darwin and Hobart (0.2%). Melbourne, the city with the highest vacancy rate, is sitting at just 1%, down from 1.6% in December.
With so few properties on the market, rents would be growing even faster if renters could afford to pay more – but they can’t, says Domain’s chief residential economist, Dr Nicola Powell.
double quotation markVacancy rates are lower than ever and supply remains incredibly tight, but rent growth is no longer accelerating everywhere. That tells us households simply can’t stretch any further.
Realestate.com.au found median advertised rents are up $30 a week in the first three months of 2026, to $680 a week, in data also released today.
Good morning and welcome to our live news blog. I’m Martin Farrer with the top overnight stories and then it will be Nick Visser with the main action.
Mark Butler told the ABC last night that the Albanese government’s sweeping changes to the national disability insurance scheme are expected to save the federal budget $35bn over four years. More coming up.
Data on the housing market today shows that properties valued below the price caps of the federal government’s 5% deposit guarantee scheme are rising faster than more expensive homes. Another set shows how the rental market is tigher than ever before. Details coming soon.
Explore more on these topics
Q&A
What is the current national vacancy rate for rentals in Australia?
The national vacancy rate for rentals in Australia is at a record low of 0.7%.
How much have median rents increased in Australian capital cities?
Median rents in Australian capital cities have climbed to $680 per week for houses and $675 for units.
Which Australian cities have the lowest rental vacancy rates?
Sydney has a vacancy rate of 0.6%, Perth 0.3%, and both Darwin and Hobart at 0.2%.
