TenantsTips / Australia / The Australian Rental Market

The Australian Rental Market

The Australian rental market varies greatly between each state and then within that state from area to area. Generally, housing is fairly affordable with a number of options available depending on your situation and needs. Capital cities such as Sydney and Melbourne tend to be a little more expensive with Hobart and Adelaide more affordable.

There are plenty of rental properties available in all capital cities in Australia as well as major regional centres. Again the price varies with capital cites normally being higher than regional centres. Although areas were there has been significant growth with tourism and mining industries booming has bought price rises in the real estate market with rental prices rising sharply.

At the top end of the market there are luxury apartments and houses aimed at the executive. These rentals are quite expensive by ordinary standards but offer luxury accommodation in highly desirable locations. Inner city apartments vary in price and location but generally range from a studio apartment for one person to the average 1 or two bedroom apartment. Some of these have garages or undercover parking. Some of the newer built blocks of units have underground parking areas. Parking space in the inner city areas is at a premium.

Inner city apartments in major cities are usually higher with all the facilities you would require, close proximity to business, sporting events and coastal activities such as beaches, fishing and boating as most of Australia’s capital cities are close to the coast.

Surburban Rental Property

Moving into suburban areas you will find larger rental properties ideal for families, couples or those wishing to share. Although prices can still be high depending on which suburb, cheaper suburbs still offer good value for money, close proximity to major shopping centres, schools hospitals etc. Work in these areas is still relatively easy to find or commuting daily is not an issue.

Rental houses are more likely found in suburban areas and the further away from the city the more houses you will find for rent at reasonable prices. Inner city living is definitely for the single person, young business couple or those willing to share.

Rental properties in outlying suburbs can quite often give you a more modern property at a cheaper price in exchange for living further from the city centre. There are still great facilities, quieter area, more open spaces with parklands and the transport system in most areas is good.

Country Rentals

When moving to regional and country areas the main concern is work. The rental market is fairly good even in the country areas with prices fairly stable and in line with the work in the area. Properties in these areas are usually fairly comfortable although mainly older style or newly renovated. In these areas houses are generally the norm although there are a number of flats to be found for the single person or a couple. So provided you have work renting in regional Australia is not a problem.

Short Term Holiday Rentals

For those travelling and not wanting to commit to a long lease there are always van parks which offer longer term casual accommodation and these are ideal for those on working holidays. Dotted around the country, the parks offer good amenities and can be anything forma single type van to a 2 bedroom cottage. Prices vary and a lease is not necessary although sometime a small bond may be required and all rent paid in advance. Boarding houses also offer temporary rental accommodation with the need for a long term tenancy agreement.

All in all the rental market is good with many people still investing in the rental properties which is great for those wishing to rent. Again, depending on where you wish to rent there are many options in quality, size location and price.



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