The IPN Regional Rent Index analyses the short-term fluctuations in house rental markets across regions in NSW, VIC, QLD, SA, WA, and TAS, excluding capital city areas.
Published monthly, the data is derived from advertised rentals for houses and is calculated over a rolling 12-month sample period. Metrics include median rents for both houses and units, and vacancy rates, all aggregated by the ABS standard known as Statistical Area 3 (SA3).
Regional Rent Index Report Highlights
Housing market
- Regional housing rentals have continued to see increases over the last three months, with the exception of WA and TAS, which have seen no change, again holding at 0%. WA’s West Pilbara at 11.1%, and QLD’s Broadbeach – Burleigh at 10% had the largest increases. WA’s Bunbury rounds out the top three with an 8% increase.
Unit market
- All states saw increases in regional unit rents over the last three months, with the exception of NSW, which held steady at 0%. WA identified the largest increase at 6.7%, followed by QLD at 2.9%. SA’s Lower North identified the largest increase at 12%, followed closely by WA’s Gascoyne with a 10% increase. NSW’s Lower Murray sat in third with an 8.9% increase, down from 9.1% in November.
Vacancy rates
- Vacancy rates saw increases across December, with TAS and VIC seeing the largest shift in both capital cities (2.4% and 1.4%) as well as in regional areas (1.7% respectively). TAS’s Central Highlands saw the largest shift at -5.3%, closely followed by TAS South East Coast at -2.8%.