Australian rents jump again as vacancy crisis deepens and households spend record share of income on housing
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Australia's rental market has seen a significant surge in rents, with a 5.7% year-on-year increase and households now spending a record 33.1% of their pre-tax income on rent. The rental vacancy crisis has deepened, with vacancy rates at 1.6% and limited choice for tenants.
Australia's rental crisis has worsened, with rents rising 2.1% in the March quarter of 2026, up from 1.2% in the previous quarter. The year-on-year increase is 5.7%, indicating a sharp reversal of the easing trend seen in 2025. Households now spend a record 33.1% of their pre-tax income on rent, up from 26.2% during the pandemic. Typical weekly rent commitments have risen by $202 over the past five years. Rental listings remain 18% below the five-year average, with vacancy rates at 1.6%, leaving tenants with limited choice. Canberra has seen relatively lower rent increases, with a 2.6% rise over the past year, compared to the national average. The report warns that relief is unlikely in the near term due to low vacancy rates and lagging supply.
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