As summer rolls in, Australia’s rental property market is heating up — and not just because of the weather. With demand surging across major cities and regional areas, tenants are once again facing fierce competition for every listing.
Demand Soars in the Summer Rental Rush
According to new data from property analysts, rental demand has climbed sharply since November, as more Australians look to relocate before the new year. Traditionally, the summer months mark the busiest period for rental turnover, but this season, the competition appears even tougher than usual.
PropTrack data shows that rental searches across Australia have jumped over 20 per cent compared to mid-year figures, while the number of available listings has fallen to its lowest point in years. In cities like Sydney and Melbourne, open homes are attracting dozens of prospective tenants, with many properties being leased within days of hitting the market.
Experts say the combination of high migration, strong student demand, and limited new housing supply is driving the squeeze. As international students return in large numbers and workers continue moving closer to city centres, the pool of available rentals has thinned dramatically.
Prices Keep Climbing as Supply Shrinks
Rents continue to climb at a pace few tenants can match. The national median rent has now reached $650 per week, up nearly 10 per cent from the same time last year. In Sydney, median weekly rents for houses are hovering around $750, while Melbourne sits closer to $600.
Regional areas aren’t being spared either. Popular lifestyle regions such as the Sunshine Coast, Newcastle, and Geelong are all reporting record-high rents, with vacancy rates as low as 1 per cent in some suburbs, reports SBS News.
Despite signs that interest rates are stabilising, the chronic undersupply of homes continues to keep pressure on the rental market. Many property investors have been selling in recent months, further reducing the number of available properties.
Property Analysts Warn of a Tough Year Ahead
Property analysts expect conditions to stay tight through the first quarter of 2026. While new apartment developments are underway in some capital cities, construction delays and high building costs mean most won’t hit the market soon enough to ease the pressure.
Some agencies have reported rental queues stretching around the block, with applicants offering months of rent upfront to secure leases. Industry experts are urging tenants to start their property searches early and prepare all documentation ahead of time to improve their chances.
A Market Stretched to Its Limits
The summer rental market has always been competitive, but this year’s surge is testing tenants’ patience — and their budgets. For many Australians, finding an affordable home now means expanding the search radius, sharing with more people, or accepting shorter leases.
As one Sydney renter put it, “You just have to move fast and hope for the best.” For now, Australia’s rental property market shows no sign of cooling — even as summer temperatures continue to rise.
