Australia news live: rental vacancies at record low in most big cities and prices rising | Australia news

Figures from Domain show that the rental market is tighter than ever, adding $25 a week to the typical advertised rent price.

Median rents in capital cities have climbed to $680 a week for houses and $675 for units. Price growth had slowed in 2025 but has now picked up in most cities.

The national vacancy rate is at a record low 0.7%, with levels of vacant rental stock at record lows in Sydney (0.6%), Perth (0.3%), and Darwin and Hobart (0.2%). Melbourne, the city with the highest vacancy rate, is sitting at just 1%, down from 1.6% in December.

With so few properties on the market, rents would be growing even faster if renters could afford to pay more – but they can’t, says Domain’s chief residential economist, Dr Nicola Powell.

Vacancy rates are lower than ever and supply remains incredibly tight, but rent growth is no longer accelerating everywhere. That tells us households simply can’t stretch any further.

Realestate.com.au found median advertised rents are up $30 a week in the first three months of 2026, to $680 a week, in data also released today.