Regional Rent Index Report, August 2023

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 August report here.

Regional Rent Index Report Highlights

Housing market

  • In Western Australia, the house market is robust with regions like Gascoyne & Kimberley showing a median price of $750 & $780 respectively, and the biggest movement over the last 3 months. Victoria's Campaspe region underscores the pressure on the rental market with a 9% growth in house rent. Northern Territory's Litchfield stands out with an 8% increase, while Queensland's Beaudesert not far behind. New South Wales' Lower Murray offers an affordable housing sector, but rents are growing at 6%, and Tasmania's regions like Central Highlands and Davenport also reflecting strong growth.

Unit market

  • The unit market sees Northern Territory's Barkly leading with significant growth. Queensland's regions, such as Beaudesert, show promising trends, while Tasmania's West Coast signals parallel growth. New South Wales' thriving market is highlighted by regions like Tumut - Tumbarumba, and Western Australia's diverse range is captured in Kimberley and Albany. South Australia's standout is Fleurieu - Kangaroo Island's median price.

Vacancy rates

  • Vacancy rates reveal further regional dynamics. Overall, regional markets reflect their capital counterparts, with low vacancy rates.  New South Wales' Lower Murray indicates a tightening market with a significant decrease in vacancy rates. Northern Territory's Katherine aligns with this trend, while Victoria's Loddon - Elmore reflects strong rental demand. Western Australia's West Pilbara and Tasmania's Huon - Bruny Island underline consistent demand, and Queensland's regions like Caboolture and Noosa continue to indicate low vacancy rates.

View our August report here.