The top 10 suburbs nationwide with the most improved affordability for renters

A stretched rental market has caused prices to skyrocket over the past 12 months.

However, new data suggests there’s some light at the end of the tunnel. Domain have ranked the top 10 suburbs nationwide with the most improved affordability for renters.

Some of the suburbs may surprise you, such as ritzy Sorrento in Victoria or Riverview on Sydney’s Lower North Shore. All suburbs have seen an annual change (improved affordability) when it comes to the median weekly asking rent for houses.

1. Sorrento, Victoria

This affluent town on the Mornington Peninsula is located 103km southwest of Melbourne’s CBD. It’s known for its limestone buildings, museums, galleries and upscale boutiques.

Domain’s latest data reveals the median weekly asking rent for houses is $750. This highlights an annual change of -25 per cent.

The median house price for the suburb is $2,203,000.

$550.00

52 Bowen Road, Sorrento VIC 3943

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2. Riverview, New South Wales

Riverview is a leafy suburb on Sydney’s Lower North Shore, 9km northwest of the CBD.

The median weekly asking rent for houses is now $1,250, highlighting an annual change of -18 per cent.

There are not enough sales over the past 12 months for Domain to obtain a median house price for the area.

$1000 Per Week

60 Sofala Street, Riverview NSW 2066

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3. Woodgate, Queensland

A seaside town in the Bundaberg region of Queensland, Woodgate is a popular holiday destination.

The median weekly asking rent for houses is $650, marking an annual change of -16.8 per cent.

There aren’t enough sales over the past 12 months for Domain to obtain a median house price for the area.

$450 per week

5 Osprey Drive, Woodgate QLD 4660

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4. Deakin, Australian Capital Territory

Mostly a residential suburb of Canberra, Deakin is also home to galleries and factories such as the Royal Australian Mint.

The median weekly asking rent for houses is $895, highlighting an annual change of -15.8 per cent.

While Domain currently does not have a median house price for Deakin, Canberra’s median house price is $1,042,730.

$745 per week

79 Kent Street, Deakin ACT 2600

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5. Denman Prospect, Australian Capital Territory

This suburb is currently under development and is named after Lady Denman, the wife of the fifth Governor-General of Australia, The Lord Denman.

The median weekly asking rent for houses is $700, marking an annual change of -12.5 per cent.

Domain’s latest data reveals the median house price for Denman Prospect is $1.4 million.

$580 Per Week

31a Trinca Street, Denman Prospect ACT 2611

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6. Sandy Bay, Tasmania

Located in Hobart, Sandy Bay is immediately south of the CBD, between Derwent River and Mount Nelson.

The median weekly asking rent for houses is $615, an annual change of -12.1 per cent.

Sandy Bay’s house price median is $1,265,000.

$650

1/18 Longview Avenue, Sandy Bay TAS 7005

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7. Hyde Park, South Australia

A ritzy inner-southern suburb of Adelaide, Hyde Park is a premier shopping and dining destination.

The median weekly asking rent for houses is $625, highlighting an annual change of -12 per cent.

There aren’t enough sales over the past 12 months for Domain to obtain a median house price for the area.

$1050 per week

23 Park Street, Hyde Park SA 5061

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8. Turner, Australian Capital Territory

A suburb of Canberra, Turner is in close proximity to the CBD and the Australian National University.

The median weekly asking rent for houses is $775, highlighting an annual change of -9.9 per cent.

There aren’t enough sales over the past 12 months for Domain to obtain a median house price for the area.

$490 weekly

12/74 Macleay St, Turner ACT 2612

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9. Reedy Creek, Queensland

Both rural and residential, this suburb of the Gold Coast is situated 6km west of Palm Beach.

The median weekly asking rent for houses is $810, an annual change of -9.9 per cent.

Reedy Creek’s house price median is $1,250,000.

$850 per week

46B/2 Ridgevista Court, Reedy Creek QLD 4227

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10. Port Elliot, South Australia

A popular holiday destination, this seaside town boasts beaches, cottages, cafes and shops, and is just over an hour south of Adelaide.

The median weekly asking rent for houses is $980, an annual change of -9.7 per cent.

There are not enough sales over the past 12 months for Domain to obtain a median house price for the area.

$650 per week

3 St Lukes Street, Port Elliot SA 5212

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