20 Regions where rents will continue surging in 2024

12 AUG 2024 Promoted by InvestorKit 2 min read Investor Strategy

Explore the 20 regions where rents will soar in 2024—discover where the best opportunities for growth are emerging

20 REGIONS where RENTS WILL CONTINUE SURGING in 2024 3 1 rc5uos

Discover the top 20 regions where rents are set to soar in 2024! Don't miss out on these valuable insights—click here: to download the full report now!

Australia’s rental crisis is showing signs of easing: SQM data shows that the average asking rents in the capital cities fell 0.5% in May, the largest percentage monthly decline in more than four years, and CoreLogic’s national rental index rose 0.7% in May, the lowest monthly change since December 2023.

However, an eased crisis is still a crisis. In fact, it is far from over.

In the 12 months to May 2024, Australian SA31 regions’ rental prices increased by 10.8% on average, only slightly lower than the 11.1% annual growth last year. Capital city SA3s achieved 12.6% average annual growth, higher than last year’s 11.6%; While the regions continue to slow down, recording only 6.4% average growth in a year (compared to last year’s 10.2%).

The InvestorKit research team reviews the rental market pressure across Australia's 300+ SA3 regions each year to identify the tightest rental markets where rents are set to surge in the coming year. We examine the rental market pressure based on a series of indicators including vacancy rate, economic performance, long-term growth, supply level, rental yield, and more. After this year's review, we present to you 5 Greater Capital Cities and 15 regions where there are clear signs that the rents will continue to surge by a total of $2,600 to $3,900 per region in the coming 12 to 24 months.

For each of the regions, we go through their rental demand & supply indicators, long-term and short-term market pressure, and rental price trends. Click here to see all 20 regions.