Shocking new analysis reveals that renters in some of Australia’s capital cities are thousands of dollars worse off this Christmas, with annual rents up to $3,600 higher than a year ago.
Everybody’s Home has analysed SQM Research weekly asking rents data, which has shown the alarming annual rise in rents (December 2023 to December 2024) that is smashing Australians in capital cities.
The analysis shows renters in capital cities are paying an average of $1,593 more annually to rent a house compared to last year, while people in units are paying an additional $1,084.
Adelaide renters living in units have copped the biggest annual surge, paying $3,634 extra this year, followed by Perth renters in houses who are paying an additional $2,985.
|
Capital City |
Weekly unit increase |
Extra rent paid for units in 2024 |
Weekly house increase |
Extra rent paid for houses in 2024 |
|
Sydney |
$7.48 |
$388.96 |
$21.30 |
$1,107.60 |
|
Melbourne |
$23.74 |
$1,234.48 |
$33.00 |
$1,716.00 |
|
Brisbane |
$23.00 |
$1,196.00 |
$24.63 |
$1,280.76 |
|
Perth |
$55.11 |
$2,865.72 |
$57.42 |
$2,985.84 |
|
Adelaide |
$69.89 |
$3,634.28 |
$50.94 |
$2,648.98 |
|
Darwin |
$46.51 |
$2,418.52 |
$37.39 |
$1,944.28 |
|
Hobart |
$25.16 |
$1,308.32 |
$13.33 |
$693.16 |
|
Canberra |
$0.56 |
$29.12 |
$49.38 |
$2,567.76 |
|
Capital City Average |
$20.86 |
$1,084.72 |
$30.64 |
$1,593.28 |
*Analysis of SQM Research Weekly Rents Index for week ending 20 December 2024, showing the weekly and annualised rise in median unit and house asking rents since December 2023.
Everybody’s Home spokesperson Maiy Azize said: “The top item on most renters’ wishlists this Christmas is a rent cut. Right now when Australians should be enjoying time with loved ones, many will be worrying about the cost of keeping a roof over their head.
“This Christmas, too many families will be forced to choose between paying their rent and putting food on the table or presents under the tree. More people are being pushed into severe housing stress and homelessness, and sacrificing the basics like cooling on hot summer days just to make the rent.
"Australians are struggling under the weight of ever-increasing rents. Paying hundreds or thousands of dollars extra in rent over the past year adds to an already unaffordable burden. Every additional dollar people have to find to cover their rent matters, pushing them closer to the brink.
“We need immediate action to make renting a viable, affordable housing choice for Australians and we urge all parties and candidates running in next year’s election to make it a priority. That means committing to a plan that ends Australia’s massive social housing shortfall, scrapping investor tax handouts, raising Centrelink payments and protecting renters from unfair rent increases.”
Media contact: Sofie Wainwright 0403 920 301