Key takeaways
Vacancy rates fell in nearly all capitals in October, reflecting stronger seasonal demand.
Most cities now have vacancy rates well below 2%, indicating an increasingly competitive rental environment that’s likely to drive rents higher over the coming months.
Despite tightening conditions, house rents were largely unchanged in October.
Darwin stood out with a 2.0% monthly increase, while Adelaide (-0.4%) and Hobart (-0.6%) recorded minor declines. All other capitals held steady.
Year-on-year, Hobart led house rent growth at 8.4%, followed by Brisbane (+4.7%), Perth (+4.5%), and Adelaide (+3.7%).
Sydney rents were flat over the year, while Melbourne declined 3.3%, the only capital with a negative annual result.
Unit rents rose sharply in Canberra (+1.8%) and Adelaide (+1.4%) in October, while Brisbane, Perth, and Melbourne saw declines.
However, annual growth remains solid across all capitals — particularly Adelaide (+9.6%), Canberra (+5.5%), Melbourne (+5.4%), and Darwin (+5.3%).
Capital city rental markets have reported generally tightening rental markets over October with vacancy rates falling in most capitals reflecting rising seasonal demand.
Most capitals however again recorded steady house rents over October compared to the previous month, however rents were higher in Darwin by 2.0% with Adelaide and Hobart house rents falling by 0.4% and 0.6% respectively.
Sydney continued to report the highest capital city house rents over September steady again at $800 per week with Hobart still the most affordable and lower at $596 per week.
Most capitals have recorded solid annual increases in house rents with Hobart the highest rising 8.4%, Brisbane higher by 4.7%, Perth up 4.5%, Adelaide higher by 3.7%, Canberra up 2.6% and Darwin higher by 2.3%.
Sydney annual house rents remained flat with Melbourne however down 3.3% over the year.
House vacancy rate fell in all capitals over October with the exception of a steady Hobart and remain at low levels well below 2.0% and set to place upward pressure on rents.
Median Weekly Asking Rents October 2025
HOUSES
| Rent | Month | Year | Vacancy Rate | Change | |
| Sydney | $800 | 0.0% | 0.0% | 1.0% | ↓ |
| Melbourne | $580 | 0.0% | -3.3% | 1.2% | ↓ |
| Brisbane | $670 | 0.0% | 4.7% | 0.7% | ↓ |
| Adelaide | $628 | -0.4% | 3.7% | 0.9% | ↓ |
| Perth | $700 | 0.0% | 4.5% | 0.8% | ↓ |
| Hobart | $596 | -0.6% | 8.4% | 0.4% | ↔ |
| Darwin | $765 | 2.0% | 2.3% | 0.4% | ↓ |
| Canberra | $698 | 0.0% | 2.6% | 1.2% | ↓ |
Capital city unit rental markets also generally tightened over October with most capitals recording vacancy rates although monthly rental growth was mixed.
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Canberra was the top performer over the month with unit rents rising by 1.8% followed by Adelaide higher by 1.4%. Sydney, Hobart and Darwin unit rents were steady with Brisbane and Perth each falling by 0.8% and Melbourne down 1.2%.
Annual unit rents have increased in all capitals with Adelaide, Canberra, Melbourne and Darwin highest and up by 9.6%, 5.5%,5.4% and 5.3% respectively.
Sydney remains the clear leader for weekly unit rents steady at $750, with Hobart still the most affordable also steady at $469 per week.
Similar to houses, capital city unit vacancy rate changes were overall lower over October and most remain exceptionally low with the exception of Melbourne and Canberra each at 2%.
Median Weekly Asking Rents October 2025
UNITS
| Rent | Month | Year | Vacancy Rate | Change | |
| Sydney | $750 | 0.0% | 2.6% | 1.1% | ↓ |
| Melbourne | $590 | -1.2% | 5.4% | 2.0% | ↓ |
| Brisbane | $650 | -0.8% | 4.8% | 1.2% | ↔ |
| Adelaide | $540 | 1.4% | 9.6% | 0.9% | ↔ |
| Perth | $650 | -0.8% | 4.8% | 0.7% | ↓ |
| Hobart | $469 | 0.0% | 4.2% | 0.8% | ↓ |
| Darwin | $600 | 0.0% | 5.3% | 1.1% | ↔ |
| Canberra | $580 | 1.8% | 5.5% | 2.0% | ↓ |
Capital city rental markets reported tightening conditions over October and with vacancy rates remaining generally low for both houses and units, higher rents remain a continuing prospect.
