{"id":182419,"date":"2025-04-03T19:30:00","date_gmt":"2025-04-03T08:30:00","guid":{"rendered":"https:\/\/propertyupdate.com.au\/?p=182419"},"modified":"2025-04-04T08:53:21","modified_gmt":"2025-04-03T21:53:21","slug":"latest-domain-rent-report","status":"publish","type":"post","link":"https:\/\/propertyupdate.com.au\/latest-domain-rent-report\/","title":{"rendered":"Australia\u2019s Rental Growth Hits Four-Year Low, But Landlords Still In Control | Latest Domain Rent Report"},"content":{"rendered":"

Australia\u2019s capital-city rental markets are showing clearer signs of cooling, but renters are still facing tough competition, according to Domain\u2019s latest Rent Report<\/a> for the March 2025 quarter.<\/p>\n

While rents continue to rise in many areas, house rental price growth across the combined capitals has now plateaued for three straight quarters, marking the slowest annual growth in four years.<\/p>\n

Domain\u2019s Chief of Research and Economics, Dr Nicola Powell said:<\/p>\n

\u201cDespite a softening of growth, the data suggests Australia is still very much a landlord's market.<\/p>\n

Most cities experienced 5% or less annual change, a sharp drop from the double-digit gains seen in recent years.<\/p>\n

Increasing supply is slowing price growth, and while it\u2019s still not enough to fully meet demand \u2013 we can see that it\u2019s helping to rebalance some of the tightest rental markets.<\/p>\n

\u201cThe affordability ceiling is also becoming increasingly apparent, with unit rents outpacing house rents in Sydney, Melbourne, Brisbane, Canberra and Hobart this quarter.\u201d<\/p><\/blockquote>\n

Houses<\/span><\/h2>\n

Table 1: House rents, quarterly and annual changes<\/strong><\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
HOUSES | MEDIAN RENTAL ASKING PRICE<\/strong><\/td>\n<\/tr>\n
Capital City<\/strong><\/td>\nMar-25<\/strong><\/td>\nDec-24<\/strong><\/td>\nMar-24<\/strong><\/td>\nQuarterly change<\/strong><\/td>\nAnnual change<\/strong><\/td>\nStatus<\/strong><\/td>\n<\/tr>\n
Sydney<\/td>\n$775<\/td>\n$770<\/td>\n$750<\/td>\n0.6%<\/td>\n3.3%<\/td>\nRecord (new), weakest March quarter since 2019<\/em><\/td>\n<\/tr>\n
Melbourne<\/td>\n$580<\/td>\n$580<\/td>\n$570<\/td>\n0.0%<\/td>\n1.8%<\/td>\nRecord (steady), weakest March quarter since 2021<\/em><\/td>\n<\/tr>\n
Brisbane<\/td>\n$650<\/td>\n$640<\/td>\n$620<\/td>\n1.6%<\/td>\n4.8%<\/td>\nRecord (new), weakest March quarter since 2021<\/em><\/td>\n<\/tr>\n
Adelaide<\/td>\n$620<\/td>\n$600<\/td>\n$590<\/td>\n3.3%<\/td>\n5.1%<\/td>\nRecord (new), weakest March quarter since 2022<\/em><\/td>\n<\/tr>\n
Perth<\/td>\n$690<\/td>\n$670<\/td>\n$650<\/td>\n3.0%<\/td>\n6.2%<\/td>\nRecord (new), weakest March quarter since 2020<\/em><\/td>\n<\/tr>\n
Canberra<\/td>\n$700<\/td>\n$695<\/td>\n$685<\/td>\n0.7%<\/td>\n2.2%<\/td>\nRecord (new),\u00a0<\/em><\/td>\n<\/tr>\n
Darwin<\/td>\n$700<\/td>\n$680<\/td>\n$650<\/td>\n2.9%<\/td>\n7.7%<\/td>\nRecord (new), strangest March quarter since 2023<\/em><\/td>\n<\/tr>\n
Hobart<\/td>\n$570<\/td>\n$550<\/td>\n$550<\/td>\n3.6%<\/td>\n3.6%<\/td>\nRecord (new), strongest March quarter since 2022\u00a0<\/em><\/td>\n<\/tr>\n
Combined Capitals<\/td>\n$650<\/td>\n$650<\/td>\n$630<\/td>\n0.0%<\/td>\n3.2%<\/td>\nRecord (steady)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
    \n
  • Sydney recorded its slowest March quarter since 2019, Perth since 2020, Melbourne and Brisbane since 2021, and Adelaide since 2022.<\/li>\n
  • Annual growth has slowed to its lowest point in nearly five years in Sydney and Perth, just over four years in Brisbane and Adelaide and just over three years in Melbourne.<\/li>\n<\/ul>\n

    Units<\/span><\/h2>\n

    Table 2: Unit rents, quarterly and annual changes\u00a0<\/strong><\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
    UNITS | MEDIAN RENTAL ASKING PRICE<\/strong><\/td>\n<\/td>\n<\/tr>\n
    Capital City<\/strong><\/td>\nMar-25<\/strong><\/td>\nDec-24<\/strong><\/td>\nMar-24<\/strong><\/td>\nQuarterly change<\/strong><\/td>\nAnnual change<\/strong><\/td>\nStatus<\/strong><\/td>\n<\/td>\n<\/tr>\n
    Sydney<\/td>\n$725<\/td>\n$710<\/td>\n$700<\/td>\n2.1%<\/td>\n3.6%<\/td>\nRecord (new), weakest March quarter since 2021<\/em><\/td>\n<\/td>\n<\/tr>\n
    Melbourne<\/td>\n$575<\/td>\n$550<\/td>\n$550<\/td>\n4.5%<\/td>\n4.5%<\/td>\nRecord (new), weakest March quarter since 2022<\/em><\/td>\n<\/td>\n<\/tr>\n
    Brisbane<\/td>\n$615<\/td>\n$600<\/td>\n$590<\/td>\n2.5%<\/td>\n4.2%<\/td>\nRecord (new), weakest March quarter since 2022<\/em><\/td>\n<\/td>\n<\/tr>\n
    Adelaide<\/td>\n$500<\/td>\n$500<\/td>\n$465<\/td>\n0.0%<\/td>\n7.5%<\/td>\nRecord (steady), weakest March quarter since 2019<\/em><\/td>\n<\/td>\n<\/tr>\n
    Perth<\/td>\n$600<\/td>\n$600<\/td>\n$550<\/td>\n0.0%<\/td>\n9.1%<\/td>\nRecord (steady), weakest March quarter since 2018<\/em><\/td>\n<\/td>\n<\/tr>\n
    Canberra<\/td>\n$575<\/td>\n$565<\/td>\n$570<\/td>\n1.8%<\/td>\n0.9%<\/td>\nRecord (new),\u00a0<\/em><\/td>\n<\/td>\n<\/tr>\n
    Darwin<\/td>\n$560<\/td>\n$550<\/td>\n$550<\/td>\n1.8%<\/td>\n1.8%<\/td>\nRecord (new), strongest March quarter since 2022<\/em><\/td>\n<\/td>\n<\/tr>\n
    Hobart<\/td>\n$480<\/td>\n$460<\/td>\n$460<\/td>\n4.3%<\/td>\n4.3%<\/td>\nRecord (last seen Mar-23), strongest March quarter since 2022<\/em><\/td>\n<\/td>\n<\/tr>\n
    Combined Capitals<\/td>\n$650<\/td>\n$630<\/td>\n$620<\/td>\n3.2%<\/td>\n4.8%<\/td>\nRecord (new)<\/em><\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
      \n
    • Perth recorded its slowest March quarter since 2018, Adelaide since 2019, Sydney since 2021, and Melbourne and Brisbane since 2022. Conversely, Hobart and Darwin \u2013 cities that had seen relatively weaker conditions \u2013 recorded their strongest March quarter since 2022.<\/li>\n
    • Annual growth has slowed to its lowest point in 3.5 years in Brisbane, roughly three years in Sydney, Melbourne and Adelaide and 2.5 years in Perth.<\/li>\n<\/ul>\n

      What's driving the slowdown?<\/span><\/h2>\n

      According to Domain, this cooling in rental growth is being driven by a combination of affordability constraints, a gradual improvement in rental supply, and the seasonal easing that tends to follow the peak summer turnover period.<\/p>\n

      After years of steep rent hikes, it looks like many tenants have finally reached their limit \u2014 they simply can\u2019t afford to pay much more.<\/p>\n

      This is capping how far landlords can realistically push rents, even in high-demand areas.<\/p>\n

      At the same time, we\u2019re seeing a lift in investor activity and a modest increase in new housing completions.<\/p>\n

      Now, while this new supply still falls short of meeting our growing housing needs, it\u2019s beginning to ease the pressure slightly in some of the country\u2019s tightest rental markets.<\/p>\n

      In fact, investor lending is running above decade-long averages in states like NSW, Queensland, South Australia, Western Australia, and even the Northern Territory.<\/p>\n

      On the demand side, population growth is slowing a touch, and some renters are adapting by consolidating households \u2014 sharing homes, taking on flatmates, or even opting for intergenerational living arrangements to cope with the rising cost of living.<\/p>\n

      So yes, landlords still hold the upper hand.<\/p>\n

      But the momentum is shifting.<\/p>\n

      The pace of rental growth is slowing, and we could be heading toward a period of greater stability in the rental market over the coming months.<\/p>\n\r\n\r\n\r\n

      <\/div>\r\n
      <\/div>\n","protected":false},"excerpt":{"rendered":"

      Australia\u2019s capital-city rental markets are showing clearer signs of cooling, but renters are still facing tough competition, according to Domain\u2019s latest Rent Report for the March 2025 quarter. While rents continue to rise in many areas, house rental price growth across the combined capitals has now plateaued for three straight quarters, marking the slowest annual…<\/p>\n","protected":false},"author":117,"featured_media":180443,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[54,1118,1186],"tags":[572,1183],"class_list":["post-182419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-property-updates","category-news-and-features","category-weekly_latest","tag-feature-featured","tag-homepage-top"],"acf":[],"yoast_head":"\nAustralia\u2019s Rental Growth Hits Four-Year Low, But Landlords Still In Control | Latest Domain Rent Report<\/title>\n<meta name=\"description\" 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