Suburbs where competition between renters is the most fierce

Karen Dellow
Karen Dellow

Australia is currently in the midst of a rental crisis with few signs of improvement.

The shortage of available rental properties has lead to record high demand and a significant increase in weekly median rents, making them unaffordable for many.

With a limited number of available properties and a large pool of potential renters, properties are being leased quickly.

In June, houses for rent in Coogee, Perth, were leased in just eleven days. This is 47 days faster than in Sorrento, Melbourne, which had the longest days on market at 58 days.

Capital city suburbs with the shortest days on market for rental houses

Rank Suburb Median days on market
1 Coogee WA 6166                                              11
2 Heathcote NSW 2233                                              11
3 Hurlstone Park NSW 2193                                              12
4 Engadine NSW 2233                                              12
5 Menai NSW 2234                                              12
6 Lake Coogee WA 6166                                              13
7 Narraweena NSW 2099                                              13
8 Coolbellup WA 6163                                              13
9 Cromer NSW 2099                                              13
10 Emu Plains NSW 2750                                              13
Source: PropTrack. Median 12 month rolling days on market.

Heathcote in Sydney also had an eleven-day median days on market period.

The combined capital city vacancy rate was a mere 1.13% in June, highlighting the severe shortage of properties to rent.

The competition among renters is fierce, resulting in houses and units being listed on for only a short time.

Following Coogee and Heathcote, the top ten list includes Hurlstone Park, Engadine, and Menai in Sydney, with a median of 12 days on the market.

Rental houses in Coogee, Perth, are being snapped up faster than any other city suburb in the country. Image: Getty.

Only suburbs in Sydney and Perth were in the top ten for the shortest days on market for houses. But, Thorneside was the top suburb in Queensland with 13 days on market.

Richmond in Adelaide ranks at number 22 with 14 days on market, while rental houses in Notting Hill in Melbourne also lasted just 14 days on market.

Units are being leased even faster than houses in many suburbs.

Capital city suburbs with the shortest days on market for rental units

Rank Suburb Median days on market
1 Dee Why NSW 2099 9
2 Cromer NSW 2099 10
3 Balgowlah NSW 2093 10
4 Bateau Bay NSW 2261 10
5 Gosnells WA 6110 10
6 Manly Vale NSW 2093 10
7 Narrabeen NSW 2101 10
8 Brookvale NSW 2100 11
9 Collaroy NSW 2097 11
10 Engadine NSW 2233 11
Source: PropTrack. Median 12 month rolling days on market.

Dee Why tops the list at nine days on market, with Cromer also seeing high demand and units going in ten days.

The top ten suburbs with the shortest days on market for units are all in Sydney, except for Gosnells in Perth.

Capalaba is Brisbane's fastest leasing suburb, while units in Black Forest, Adelaide, are being snapped up in just 13 days.

Dee Why, Sydney, has the shortest days on market for units. Image: Getty.

The scarcity of rental properties in many suburbs puts immense pressure on renters to act quickly and secure leases. Renters must be well-organized, arrive at open houses with their applications completed, and have all paperwork in order to ensure they are accepted as quickly as possible.

The Australian rental market is experiencing an unprecedented crisis, with a severe shortage of available properties driving up demand and prices. Renters need to be proactive and prepared to navigate this competitive landscape successfully.

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