Suburbs where rents haven’t gone gangbusters
The rental crunch continues to see prices soar in most parts of the country, but renters can still find desirable suburbs where they’ll be paying the same, if not less than pre-pandemic.
As life post-Covid normalises, rents are edging back to what they were in 2019, but new analysis from PropTrack shows some pockets still have medians that haven’t budged.
“While population growth has restarted and international students are returning, they are not yet at the same levels we were seeing pre-Covid,” PropTrack economist Anne Flaherty said.
“Suburbs that rely on these residents are continuing to see rents below pre-COVID levels.
“With white collar workers spending less time in their offices, many are continuing to favour outer suburban and regional areas, hampering the recovery of inner-city areas.”
Suburbs in Melbourne and Sydney have seen the biggest decreases in price since March 2020.
Pyrmont in Sydney had the largest price drop