The cheapest city in Australia to rent in has been revealed

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Melbourne has become the cheapest capital city in Australia to rent a home for the first time ever – and it’s all thanks to its neverending lockdowns.  

Melbourne’s weekly median rent for houses now sits at $430, less than any other city and $10 less than the next cheapest Adelaide, according to a Domain report released on Thursday.

Unit rental prices are also the lowest coming in at an average of $375 per week. 

As the Victorian city recently became the most locked down place in the world, Domain’s Chief of Economics and Research Dr Nicola Powell said a ‘mass exodus’ had seen many Melburnians flee interstate or into regional areas.

‘Tenants have grappled with the longest lockdown of any city in the world and that’s really weighed on people’s decisions about where they’re going to live,’ she told 7 News.

© Provided by Daily Mail (
© Provided by Daily Mail (

‘It’s quite the title to have for Melbourne. What we’re seeing is rapidly rising rents in other capital cities where Melbourne house rents have really remained steady.’


Video: House prices set to rise nationally in 2023 (Sky News Australia)

WEEKLY MEDIAN HOUSE RENTS FOR EACH CAPITAL CITY 

Sydney $580 

Melbourne $430 

Brisbane $460 

Adelaide $440 

Perth $450 

Canberra $645 

Darwin $620 

Hobart $495  

Surprisingly, rent prices for both units and houses are actually lower now than they were before the pandemic, where as rents in other capital cities have increased in the wake of the Covid-19 outbreak.

Properties closer to the inner city are even costing tenants the same as they would have a decade ago.

‘When you have a look at inner-city unit rents, they are similar to what tenants are paying back in 2009 to 2010 – they are currently at $375 a week,’ Dr Powell said.

Compared to March last year where rental prices soared, house rents are now $10 cheaper per week and units have decreased by $60, according to the Domain report.

Rents are cheapest the closer residents are to the city, with prices going up in suburbs with more space as families look to expand their homes. 

Dr Powell said that over the past quarter unit rent prices have slightly gone up by $5 each week and urged tenants to get in now if they wanted a good deal. 

Meanwhile, for houses and units outside of the Melbourne’s inner city such as in regional areas or the Mornington Peninsula, prices have gone up.

Dr Powell said ‘record highs’ have been seen in these areas and in the outer-eastern suburbs which she guesses could be down to tenants wanting a second home to escape to during lockdown.

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