Median Australian house rents hit record high in 2026

Median weekly house rents across Australian capital cities rose to a record high in the second quarter of 2026, according to a report released on Thursday. The latest rental report from property marketplace platform Domain showed that median weekly house rents across all capital cities and territories increased by 2.9 per cent in the June quarter and 7.7 per cent year-on-year to 700 Australian dollars. The report noted that this figure represents the highest annual growth rate in nearly two years. In Sydney, Australia’s most expensive property market, the median asking weekly rent for houses climbed to 850 Australian dollars, up from 800 Australian dollars in the first quarter. Domain said the 6.3 per cent increase in Sydney house rents was the strongest quarterly growth in four years. “The rise in Sydney house rents by 50 Australian dollars per week in just three months is remarkable,” said Nicola Powell, Domain’s Chief of Research and Economics, in a media release. “This quarterly growth in Sydney is about five times faster than a year ago.” The federal government announced in May that it would reduce tax concessions for property investors starting in July 2027. Zac Snelling, head of property management at major Australian real estate group Ray White, said some landlords have already raised rents to offset the impending tax reforms. The Domain report also noted that median asking rents for houses in regional areas rose 1.7 per cent in the June quarter to 610 Australian dollars. Meanwhile, median asking rents for units in the capital cities increased 0.7 per cent quarterly to 680 Australian dollars.