Key takeaways
Capital city home rental markets have generally tightened over October with lower vacancy rates following the easing of rates reported over previous months.
Sydney continued to report the highest capital city house rents over the month but lower again at $855 per week with Melbourne still the most affordable and steady at $600 per week.
Unit rents were also generally steady over October with Brisbane and Hobart the only capitals to report an increase – up by 3.6% and 1.2% respectively.
Capital city home rental markets have generally tightened over October with lower vacancy rates following the easing of rates reported over previous months. House and unit rents however remained relatively steady over the month.
Darwin was the only capital to report higher house rents over the month – up by 3.3%. Hobart, Canberra and Sydney house rents fell by 0.3%, 0.4% and 1.2% respectively, with all other capitals steady.
Sydney continued to report the highest capital city house rents over the month but lower again at $855 per week with Melbourne still the most affordable and steady at $600 per week.
Most capitals however continue to report solid to strong annual house rent growth with Darwin remaining the top performer up by 11.1% followed by Perth up 7.1%, Sydney higher by 6.9% and Brisbane up 6.0%.
House vacancy rates also generally lower over October with all remaining at low levels - most under 1.0%.
Median Weekly Asking Rents October 2026 - Houses
| Rent | Month | Year | Vacancy Rate | Change | |
| Sydney | $855 | -1.2% | 6.9% | 1.3% | ↓ |
| Melbourne | $600 | 0.0% | 3.4% | 1.3% | ↔ |
| Brisbane | $710 | 0.0% | 6.0% | 0.7% | ↓ |
| Adelaide | $650 | 0.0% | 3.6% | 0.6% | ↓ |
| Perth | $750 | 0.0% | 7.1% | 0.6% | ↓ |
| Hobart | $618 | -0.4% | 3.6% | 0.4% | ↓ |
| Darwin | $850 | 3.3% | 11.1% | 0.5% | ↑ |
| Canberra | $715 | -0.3% | 2.5% | 0.9% | ↓ |
Units
Unit rents were also generally steady over October with Brisbane and Hobart the only capitals to report an increase – up by 3.6% and 1.2% respectively. Melbourne and Adelaide rents however fell by 0.8% and 0.9% respectively over the month – with all other capitals steady
Annual unit rents have increased strongly in Darwin, Hobart, Perth and Sydney - up by 15.0%, 12.8%, 7.7% and 6.7% respectively.
- Also read:Melbourne housing market update | November 2026
- Also read:Sydney housing market update | November 2026
- Also read:Vacancies fall, rents stall and rates hit an 18-year high: what Australia’s latest property data is telling us | Property Insiders
- Also read:Australian housing market update | November 2026
- Also read:Latest Property Price Forecasts. Australian Property Market Outlook 2026-2027: Navigating a Market Correction
Sydney remains the clear leader for weekly unit rents steady at $800, with Hobart still clearly the most affordable at $529 per week.
Similar to houses, vacancy rates tightened over October in most capitals, with Brisbane and Canberra however still tracking above 2.0%
Median Weekly Asking Rents October 2026 - Units
| Rent | Month | Year | Vacancy Rate | Change | |
| Sydney | $800 | 0.0% | 6.7% | 1.4% | ↓ |
| Melbourne | $605 | -0.8% | 2.5% | 2.2% | ↓ |
| Brisbane | $685 | 3.6% | 5.4% | 1.1% | ↓ |
| Adelaide | $540 | -0.9% | 0.0% | 0.9% | ↓ |
| Perth | $700 | 0.0% | 7.7% | 0.6% | ↓ |
| Hobart | $529 | 1.2% | 12.8% | 0.6% | ↓ |
| Darwin | $690 | 0.0% | 15.0% | 0.9% | ↑ |
| Canberra | $580 | 0.0% | 0.0% | 2.3% | ↓ |
Final note...
Rental markets have generally tightened over October for both houses and units following an easing over previous months.
Vacancy rates have fallen and remain mostly low, particularly for houses.
Reduced migration and fewer overseas student numbers are likely to reduce demand for rentals however the clear prospect of declining residential investors and stagnant underlying new supply is likely to keep upward pressure on rents and downward pressure on vacancy rates over the longer-term.
