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As house rent prices hit record highs across the nation, here’s the areas showing real investment potential, and leading Australia’s rental market growth.
National house rents have increased by 0.6 of a percentage point over the March 2021 quarter, bringing the median weekly asking rent to $471, the latest Domain Rent Report has found.
Over the same quarter, most capital cities have seen median house rental asking prices hold steady or increase, with Hobart leading the charge at a 4.3 per cent rise. Only Melbourne saw house rents decrease by 2.3 per cent.
In fact, the report flagged that house rents in most capital cities have hit record highs — once again, with the exception of Melbourne, along with Perth and Darwin.
However, based on annual results, Perth and Darwin saw the greatest rises in median asking rent for both houses and units, with prices increasing by as much as $70 in some areas.
Perth, in particular, has witnessed “the highest asking rents in almost six years”, according to Domain.
With outstanding results across most states, find out which areas have emerged as winners in the rental race:
NSW
| Area | Median Rent | Annual Growth |
| Byron Bay | $885 | 26.4% |
| Eurobodalla | $528 | 22.7% |
| Yass Valley | $530 | 21.8% |
| Snowy Monaro Regional | $410 | 17.1% |
| Wingecarribee | $580 | 16.0% |
Victoria
| Area | Median Rent | Annual Growth |
| Alpine | $440 | 25.7% |
| South Gippsland | $350 | 16.7% |
| Wangaratta | $370 | 15.6% |
| Latrobe | $370 | 13.8% |
| Bass Coast | $390 | 11.4% |
Queensland
| Area | Median Rent | Annual Growth |
| Gladstone | $350 | 25.0% |
| Noosa | $650 | 22.6% |
| Isaac | $350 | 20.7% |
| Rockhampton | $370 | 19.4% |
| Livingstone | $450 | 18.4% |
Western Australia
| Area | Median Rent | Annual Growth |
| Port Hedland | $575 | 36.1% |
| Augusta-Margaret River | $500 | 25.0% |
| Coolgardie | $238 | 25.0% |
| East Pilbara | $525 | 20.6% |
| Busselton | $473 | 18.1% |
South Australia
| Area | Median Rent | Annual Growth |
| Victor Harbor | $450 | 30.4% |
| Mount Gambier | $303 | 12.0% |
| Whyalla | $270 | 8.0% |
| Port Pirie | $220 | 6.0% |
| Roxby Downs | $370 | 5.7% |
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