Suburbs with the largest rent decreases in the past year
The cozzie livs is HECTIC. How are y’all coping? Morning coffees, grocery bills and rent just keep going up. But there is light at the end of the tunnel. Some suburbs across Australia have actually had a rent decrease in the past year.
In case you’ve been living under a rock (and even then, your rent for that boulder has probably gone up too), all across the country, rents and the cost of every day items have increased. But amongst all of this doom and gloom, Flatmates is here to share some good news, finally. All across the country, in every capital city, there are suburbs that have been lucky enough to have seen a rent decrease, from July 2022 to July 2023. And you, our good mates, get to find out where.
Before you come for us, yes we know these suburbs are often on the outer edges of the city and aren’t in “popular share accommodation areas.” If you want to see our suburbs with the largest rent increases, go right ahead. But we’re here to help if anyone needs a tree change or to find somewhere more affordable.
Below we take you through the top 10 suburbs from each capital city with the largest decreases in weekly median room rent from July 2022 to July 2023. All data is from the one and only, Flatmates.com.au.
Sydney suburbs that have decreased in rent
Constitution Hill had the biggest rent decrease along with 10 other outer-city suburbs. Sydney is spenny but moving further out could save you a tonne in cash. Check out the suburbs below to see if they’re the right fit for you.
| Suburb | July 2022 | July 2023 | YoY decrease |
|---|---|---|---|
| Constitution Hill | $320 | $200 | -37.5% |
| Elanora Heights | $400 | $270 | -31.3% |
| Bella Vista | $260 | $185 | -28.8% |
| Smithfield | $250 | $185 | -26% |
| Collaroy Plateau | $400 | $300 | -25% |
| Cremorne Point | $200 | $160 | -20% |
| Jannali | $350 | $283 | -19.3% |
| Greystanes | $300 | $250 | -16.7% |
| Mortdale | $300 | $258 | -14.2% |
Melbourne suburbs that have decreased in rent
Flemington, a sweet 4km from the CBD had the largest decrease, along with 9 other suburbs. Cool and funky Mal-bin does seem a little cooler and funkier with inner-city suburbs offering a -34% decrease in rent - hell yeah!
| Suburb | July 2022 | July 2023 | YoY decrease |
|---|---|---|---|
| Flemington | $265 | $185 | -34% |
| Vermont | $300 | $200 | -33.3% |
| Bannockburn | $250 | $200 | -20% |
| Diamond Creek | $250 | $200 | -20% |
| Mambourin | $250 | $200 | -20% |
| Kew East | $250 | $204 | -18.4% |
| Montmorency | $250 | $210 | -16% |
| Blackburn North | $220 | $185 | -15.9% |
| Boronia | $250 | $220 | -12% |
| Mickleham | $220 | $200 | 9.1% |
Hobart suburbs that have decreased in rent
Did you know Hobart has the highest rent prices in the country compared to the average wage? And due to its massive boom, only 4 suburbs have had a drop in their weekly rental price in the past year. The largest decrease was Lindisfarne at -6.7%. It’s tough times out there for our Hobart Flatmates.
| Suburb | July 2022 | July 2023 | YoY decrease |
|---|---|---|---|
| Lindisfarne | $225 | $210 | -6.7% |
| Taroona | $217 | $210 | -3% |
| Kingston | $205 | $200 | -2.4% |
| Sandy Bay | $240 | $235 | -2.1% |
Adelaide suburbs that have decreased in rent
Ten Adelaidean suburbs have had significant rent decreases in the past year, with Bellevue Heights taking the cake.
Adelaide actually is Radelaide because in these burbs you could be saving up to $28 a week on rent - which is $1456 a year! Amazing news!
| Suburb | July 2022 | July 2023 | YoY decrease |
|---|---|---|---|
| Bellevue Heights | $200 | $175 | -12.5% |
| Ascot Park | $228 | $200 | 12.1% |
| Woodville North | $220 | $198 | -10.2% |
| Payenham | $200 | $183 | -8.8% |
| Beulah Park | $298 | $273 | -8.4% |
| North Adelaide | $300 | $275 | -8.3% |
| Kent Town | $190 | $176 | -7.4% |
| Gilberton | $250 | $235 | 6% |
| Magill | $250 | $235 | 6% |
| Woodcroft | $210 | $200 | -4.8% |
Canberra suburbs that have decreased in rent
Queanbeyan West, a 20-minute drive from Canberra CBD, had the largest rent decrease. But even with up to a 32% discount in rent, Canberra suburbs are still spenny af! Why don’t we cut the pollies’ salaries in half and put that towards affordable housing?
| Suburb | July 2022 | July 2023 | YoY decrease |
|---|---|---|---|
| Queanbeyan West | $370 | $250 | -32.4% |
| Higgins | $260 | $190 | -26.9% |
| Moncrieff | $300 | $220 | -26.7% |
| Banks | $450 | $350 | -22.2% |
| Flynn | $255 | $210 | -17.6% |
| Ainslie | $290 | $248 | -14.7% |
| Lyons | $260 | $230 | -11.5% |
| Macquarie | $220 | $195 | -11.4% |
| Wanniassa | $280 | $250 | -10.7% |
| Crace | $240 | $220 | -8.3% |
Darwin suburbs that have decreased in rent
You’re on to a Darwinner if you manage to snap up a (albeit) small discount in one of only five Darwin suburbs that have seen a rent decrease in the past year.
| Suburb | July 2022 | July 2023 | YoY decrease |
|---|---|---|---|
| Nightcliff | $273 | $230 | -15.6% |
| Tiwi | $250 | $225 | -10% |
| Wagaman | $240 | $220 | -8.3% |
| Malak | $225 | $214 | -5.1% |
| Nakara | $235 | $230 | -2.1% |
Perth suburbs that have decreased in rent
North Coogee had the largest discount of 30% in the past year, along with 6 other Perth suburbs that witnessed a rent reduction. These Perth suburbs don’t come cheap, but at least you can snap up a cheaper deal than the same time last year.
| Suburb | March 2022 | March 2023 | YoY increase |
|---|---|---|---|
| North Coogee | $500 | $350 | -30% |
| Craigie | $250 | $180 | -28% |
| Coogee | $350 | $280 | -20% |
| City Beach | $300 | $275 | -8.3% |
| Highgate | $250 | $238 | -5% |
| White Gum Valley | $263 | $250 | -4.8% |
| Nedlands | $250 | $245 | -2% |
Brisbane suburbs that have decreased in rent
Everyone is a winner in Brisvegas with significant reductions in rent across 10 suburbs dotted throughout the city.
| Suburb | March 2022 | March 2023 | YoY increase |
|---|---|---|---|
| Daisy Hill | $390 | $250 | -35.9% |
| Grange | $260 | $200 | -23.1% |
| Moggill | $225 | $190 | -15.6% |
| Murrumba Downs | $300 | $260 | -13.3% |
| Bald Hills | $265 | $233 | -12.3% |
| Berrinba | $200 | $180 | -10% |
| Alexandra Hills | $250 | $230 | -8% |
| Salisbury | $250 | $230 | -8% |
| Wynnum West | $270 | $250 | -7.4% |
| Wellington Point | $300 | $280 | 50% |
How to find a cheaper place to live
Obviously the cost of living crisis and current rental crisis are hitting our community the hardest. It’s extremely difficult for members to find a rental at the moment or even a room in a share house. We know that some of these locations are not “prime locations” or hot-in-demand share suburbs, but if you need to save money and that is your number one priority, then maybe having a look a bit further out at some of these locations is a good idea. Many perks come with living further out as well - more space and often a garden, which is great if you have kids or pets. In fact, living in a share house compared to a solo rental can save you on average $5-$10K per year.
If you have a location that you’re absolutely set on but can’t afford, check out our cheaper suburb finder, which will show you suburbs in a 3km radius of your desired location that are more affordable.
Check our ultimate guide to side hustling or our guide on how to handle the rising cost of living, which should give you some tips on how to live your best frugal lives.
Get started and create a listing to find a place or find a new flatmate.
Goodluck fellow flatmates!
