Regional Rent Index, March 2024

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).

View our March report here

Regional Rent Index Report Highlights


Housing market

  • Regional housing rentals saw increases in WA (+1.8%) and QLD (+1.7%), however all other states remained at 0% change over the past quarter. QLD Innisfail – Cassowary Coast continues to see large increases, with a +8.8% change over the last quarter. WA’s Mid West identified a +7.5% change, followed by QLD’s Bowen Basin – North at +6.7%.

Unit market

  • QLD again saw an increase of +4.8% over the past quarter in regional unit rental medians. SA increased by +3.7%, followed by VIC at +1.4% and TAS at +1.3%. NSW and WA held steady at 0%. SA’s Outback – North and East saw the largest increase over the past quarter at +7.7%, followed by VIC’s Grampians at +6.9% and NSW’s Snowy Mountains at +5.9%.


Vacancy rates

  • All states saw increases in vacancy rates over the past three months, with VIC and TAS seeing the largest changes at +1.5%. NSW’s Bourke – Cobar – Coonamble saw the largest decrease in vacancies over the past quarter, with a -2.4% change, followed by Snowy Mountains at -1.7%, and QLD’s Port Douglas – Daintree at -1.4%.

View our March report here