Where you can still rent for $400 a week or less in a capital city

Despite house rents nationally soaring a record 11.5 per cent over the past year, and apartment rents an incredible 26.1 per cent, there are still some suburbs in each capital city where it’s possible to pay $400 a week.

The latest Domain Rent Report for the June quarter reveals that there are affordable areas in every main city – even though there have been stellar rent hikes in others.

“Rental markets aren’t uniform across Australia and not even in each city,” said Domain chief of research and economics Dr Nicola Powell. “Pockets of affordability do still exist if you look for them.

“You often have to search but particularly in the outer and middle rings there are areas that vary dramatically, and even across different types of property.”

In Sydney, for instance, where the median unit rent is now $670 a week, there are a number of locations that have units for rent for under $400.

In Lakemba in Canterbury-Bankstown, the median weekly unit rent is $380. It’s the same in nearby Wiley Park, and even less at $350 in Fairfield in the south-west. The real bargain is Carramar in the south-west, at $310.

In Lakemba, there is currently a large studio at G03/94 Croydon Street for rent via Ralph First Real Estate at $350 a week.

$350 per week

G03/94 Croydon Street,, Lakemba NSW 2195

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“Lakemba is a beautiful suburb and it’s wonderful that it is affordable, although rents have gone up here a lot recently,” said Rahat Ferdaus of Ray White AusBan Group Lakemba. 

“There are lots of shops and restaurants and cafes here, and it’s only 11 kilometres to the CBD.

“There is a very high demand for rentals here because it is such a popular place. Property here is also a very good investment as a result.”

In Melbourne, where the median unit rent is $500, there is also a wide selection of suburbs where rents are $400 or less. Footscray in the west is a good example of that $400 point.

Kim Te of Motion Property currently has a one-bedroom apartment for rent at 1501/4 Joseph Road for $450 a week.

“Footscray is a location that people really like,” he said. “It’s easy to get into the city and out to the west; it’s easy to get onto the freeway. This area has such a nice vibe, too. There’s a lot of variety of homes here, too.”

$460

1501/4 Joseph Road, Footscray VIC 3011

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Other affordable suburbs for units include Burwood in the inner east at $370 a week, Gardenvale in the inner south at $348, Seddon in the west at $390 and Essendon close by at $398.

In Brisbane, which has a median of $530, units are affordable in Tingalpa in Brisbane East at $375 a week, Sandgate in Bayside North at $300 and Salisbury in Brisbane West at $360.

Taegan Anthony of Cove Property Advisory says Brisbane East is attractive as it’s quite close to both the city and Bayside. “So the area is very convenient,” she said.

$425/wk inc. bills

58 Whites Road, Manly West QLD 4179

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That number of affordable suburbs could easily increase in the near future. 

Powell said the rate of rental growth was now easing and was particularly weak in Canberra, Hobart and Darwin. It was stronger in Sydney, Melbourne, Brisbane and Perth, but, with vacancy rates starting to rise everywhere, rents may not be rising so quickly.

“We’re starting to see the tide turn for tenants,” Powell said. “There still needs to be a massive shift in rental supply to alleviate conditions significantly, but things are starting to get better.

“We’re still very mindful, however, that while $400 is affordable for some, for others it’s still a huge chunk out of their income each week.”

Adelaide, with a unit median of $430, also has some unit bargains, like West Beach in Adelaide Metro West with a $390 rent, Henley Beach South in the same region at $380 and Payneham in the east at $390.

A good rent in Hobart, where the median is $450 for units, is in Mount Stuart at $378. In Perth, where the median is $480, units can be rented in Wembley in the city for $380, Inglewood – also in the city – for $400 and in Maylands in the north for $370.