Where Rents Will Rise The Most
Perth is set to be hit with Australia’s highest rental increases in 2024, while Hobart will have the smallest, according to new analysis by Finder.
It says rents will increase by 9.5% in Perth by the end of next year.
Finder head of consumer research Graham Cooke says Hobart rents are expected to increase by only 3%.
Melbourne rents are tipped to rise by 6.8% while both Sydney and Brisbane will rise by 6.5% and Darwin by 5.5%.
The analysis says Adelaide rents will rise by 5%.
Cooke says the Finder Consumer Sentiment Tracker shows 42% of renters are already struggling to pay their rent.
“Much of the conversation around rate rises focuses on homeowners, but it’s actually renters who are proportionally feeling the impact more, as they deal with flow-on rent increases,” he says.
“Further rent increases won’t be welcome news for those struggling.”
Analysts predict rents will continue to rise despite a Federal Government announcement that it will scale back immigration to more “sustainable levels”.
