Sydney Maintains Highest Median Rent Among Australian Capitals at $750 per Week

New data from Domain reveals that the median price for rental houses in Sydney remained at a high of $750 per week in June 2024. This amount continues to represent the highest median rent among Australia’s capital cities, marking a 7.1% increase from June 2023.

Despite a general slowing down of rental increases nationwide, Sydney’s rental prices remain significant. The city’s rental market continues to be a challenge for tenants, reflecting ongoing demand and limited supply.

The data from Domain highlights real estate market trends in Australia, emphasizing the unique pressures faced by renters in Sydney compared to other capital cities. As rental growth moderates across the country, Sydney’s high rental prices persist, underscoring the need for continued attention to housing affordability in the region.