Key takeaways
Low vacancy rates have continued to predictably drive house rents higher over April with most capital cities again reporting higher results.
Unit rents however reported generally lower rents and higher vacancy rates reflecting the seasonal effects of the lengthy April holiday month.
Although migration growth has continued to decline and first home buyer numbers have surged courtesy of government policies, this has been offset by lower new supply that is contributing to maintaining low vacancy rates through 2026.
Low vacancy rates have continued to predictably drive house rents higher over April with most capital cities again reporting higher results.
Unit rents however reported generally lower rents and higher vacancy rates reflecting the seasonal effects of the lengthy April holiday month.
Hobart was the top performer with house rents up by 3.2% over the month followed by Sydney higher by 1.8%, Melbourne up 1.3%, Brisbane higher by 1.1% and Adelaide up 0.4%.
Perth house rents were steady however Canberra and Darwin were lower, down by 1.0% and 2.2% respectively.
Sydney continued to report the highest capital city house rents over April and higher again at $835 per week with Melbourne continuing as the most affordable but also higher again at $595 per week.
Hobart, Darwin, Brisbane and Perth continue to report strong to solid annual increases in house rents up by 11.7%, 10.7%, 7.7% and 7.1% respectively with Sydney higher by 4.4% Canberra up 3.2%, Adelaide higher by 2.6% and Melbourne up marginally by 0.8%.
House vacancy rates were again mainly lower or steady over April and generally remain at extremely low level with all below 1.5% and with most now lower than 1.0%
Median Weekly Asking Rents April 2026
HOUSES
| Rent | Month | Year | Vacancy Rate | Change | |
| Sydney | $835 | 1.8% | 4.4% | 1.1% | ↓ |
| Melbourne | $595 | 1.3% | 0.8% | 1.2% | ↔ |
| Brisbane | $700 | 1.1% | 7.7% | 0.8% | ↔ |
| Adelaide | $650 | 0.4% | 2.6% | 0.9% | ↓ |
| Perth | $750 | 0.0% | 7.1% | 0.8% | ↔ |
| Hobart | $643 | 3.2% | 11.7% | 0.5% | ↓ |
| Darwin | $775 | -2.2% | 10.7% | 0.2% | ↓ |
| Canberra | $723 | -1.0% | 3.2% | 1.3% | ↑ |
Units
In contrast to houses, unit rental markets generally eased over April with capital city rents mostly lower or steady, reflecting reduced demand due to holiday distractions.
- Also read:Rents Keep Rising While Inflation Spooks Investors – What It Really Means for Property | Property Insiders
- Also read:This week’s Australian Property Market Update – Latest Data, State by State May 5th 2026
- Also read:National Listings Steady in April as Market Shows Mixed Signals | National Listings Rise in March
- Also read:Latest Property Price Forecasts Revealed. Australian Property Market Outlook 2026: Where To Now After The Rate Rise.
- Also read:National Weekly Auction Report – May 2nd 2026 | Clearance Rates Fall as Auctions Surge Following End of Holiday Distractions
Sydney was the top monthly performer with unit rents rising by 1.9% followed by Canberra higher by 0.6%.
Adelaide and Perth rents were steady; however, Hobart, Melbourne, Brisbane and Darwin unit rents fell by 1.0%, 1.7%, 1.9% and 2.0% respectively.
Annual unit rents have increased solidly in most capitals with Sydney, Perth, Darwin and Hobart highest up by 8.7%, 7.7%, 6.4% and 4.0% respectively. Melbourne unit rents are however down by 1.7% over the year.
Sydney also remains the clear leader for weekly unit rents and higher at $815, with Hobart still clearly the most affordable and lower at $520 per week.
Unlike houses, capital city unit vacancy rates were mostly higher or steady over the month but similar to houses generally remain at low levels and well below 2.0% with the exception of Canberra.
Median Weekly Asking Rents April 2026
UNITS
| Rent | Month | Year | Vacancy Rate | Change | |
| Sydney | $815 | 1.9% | 8.7% | 1.6% | ↑ |
| Melbourne | $580 | -1.7% | -1.7% | 1.4% | ↑ |
| Brisbane | $650 | -1.9% | 0.4% | 1.0% | ↔ |
| Adelaide | $550 | 0.0% | 3.8% | 0.9% | ↔ |
| Perth | $700 | 0.0% | 7.7% | 0.7% | ↑ |
| Hobart | $520 | -1.0% | 4.0% | 1.2% | ↑ |
| Darwin | $625 | -2.0% | 6.4% | 0.4% | ↓ |
| Canberra | $596 | 0.6% | 3.2% | 2.3% | ↑ |
End note
Although migration growth has continued to decline and first home buyer numbers have surged courtesy of government policies, this has been offset by lower new supply that is contributing to maintaining low vacancy rates through 2026.
Ongoing low and falling vacancy rates are set to generate consistently higher rents with signs continuing to emerge over April despite the usual reduction in seasonal demand - particularly for units.
