5 premium Australian rental markets in SPI’s FAST 50

So far, we’ve covered the five most affordable suburbs contained in the report, the highest yielding regions, the areas with the strongest price growth over the first quarter of 2023, which regions have experienced consistent growth, and those that defied last year’s market downturn the greatest.

Today, we look at which of the 50 boast the highest rents in a piece that will read pleasantly for landlords and not so nicely for tenants.

Clayfield (QLD) $750:

Surprise, surprise! One of the most expensive suburbs in the FAST 50 report also boasts the highest rent. Tenants of this Brisbane suburb will want to be earning a pretty penny if they want to land a roof over their head here.

With the Olympics moving forward, Clayfield, as with wider Brisbane, looks set to bathe in the glory born by the games.

Leppington (NSW) $680:

This south-west Sydney suburb has become a near-permanent fixture in these lists. As with Clayfield before it, high median house prices have coincided with high rents. For residents of Leppington, which was home to more farm animals than people barely a decade ago, development has become as common as the rising sun.

Heading into the future, and bolstered by the Western Sydney Airport, Leppington and the surrounding areas look likely to continue reaping the rewards of its growing momentum.

Oran Park (NSW) $650:

Falling $30 short of nearby Leppington, this former raceway has also become as common in these lists as just about any other suburb. Much like its prices, which have boomed in recent years owing to the suburbs’ increased appeal to first home buyers and migrants, Oran Park’s rents have soared and with thousands more homes bracing to be built in the area, is there any cap on its growth?

Hamilton (NSW) $600:

Not even the heart of Newcastle can avoid rising rents. Much like the Knights in the first half of the 2001 NRL Grand Final, rents in Hamilton surged incredibly throughout 2022. Despite this, rents in the central Newcastle suburb remain firmly below the city’s median.

Hamersley (WA) $580:

Breaking the eastern seaboard’s stranglehold on this list, this north-western Perth suburb lies a stone’s throw from some of the state’s most iconic beaches. Despite a beachy, relaxed vibe, the area remains incredibly well-connected to Perth’s bustling central business district.

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