Rental market report, March quarter 2025
Rents on new leases rose in every state with figures in the year to the March quarter 2025. South Australia rose the most (6.6%) and Queensland the least (5.5%).
The states at a glance
All homes, March quarter 2025
| State | Median weekly rent | 1 year | New leases | Leases, 1 year |
|---|---|---|---|---|
| New South Wales | $690 | +6.2% | 84,098 | +4.9% |
| Queensland | $580 | +5.5% | 61,776 | +2.2% |
| South Australia | $500 | +6.6% | 15,535 | +0.1% |
| Tasmania | $475 | +5.6% | 3,893 | −9.7% |
Victoria, Western Australia, the ACT and the Northern Territory are missing. They don't publish current bond figures.
New South Wales
Figures published by NSW Department of Communities and Justice
New tenants in New South Wales paid a median of $690 a week in the March quarter 2025, up 6.2% on a year earlier.
It rose 3.0% on the quarter before.
84,098 new leases were signed, 4.9% more than a year earlier.
A 2-bedroom unit went for a median of $735 (up 5.0%) and a 3-bedroom house for $640 (up 6.7%).
Biggest rises over the year
| Place | Median | 1 year | New leases |
|---|---|---|---|
| Pymble and West Pymble (2073) | $1,050 | +28.1% | 100 |
| Lavington (2641) | $450 | +18.4% | 194 |
| Cabramatta and Canley Heights (2166) | $550 | +17.0% | 295 |
| Umina Beach and Ettalong Beach (2257) | $640 | +16.4% | 223 |
| Minto and Raby (2566) | $600 | +15.4% | 130 |
Biggest falls over the year
| Place | Median | 1 year | New leases |
|---|---|---|---|
| Botany (2019) | $765 | −15.0% | 174 |
| Summer Hill (Inner West) (2130) | $630 | −6.7% | 215 |
| Leichhardt and Lilyfield (2040) | $800 | −5.9% | 290 |
| Cremorne and Cremorne Point (2090) | $800 | −5.9% | 228 |
| Waratah and Waratah West (2298) | $420 | −5.6% | 220 |
Queensland
Figures published by Residential Tenancies Authority (Queensland)
New tenants in Queensland paid a median of $580 a week in the March quarter 2025, up 5.5% on a year earlier.
That's unchanged from the quarter before.
61,776 new leases were signed, 2.2% more than a year earlier.
A 2-bedroom unit went for a median of $620 (up 6.9%) and a 3-bedroom house for $590 (up 7.3%).
Biggest rises over the year
| Place | Median | 1 year | New leases |
|---|---|---|---|
| Ashmore | $700 | +40.0% | 101 |
| Albion (Brisbane) | $730 | +25.9% | 149 |
| Moranbah | $650 | +18.2% | 215 |
| Maryborough | $430 | +17.8% | 103 |
| Miami | $850 | +17.2% | 118 |
Biggest falls over the year
| Place | Median | 1 year | New leases |
|---|---|---|---|
| Brisbane City | $429 | −22.0% | 2,120 |
| Smithfield | $585 | −10.0% | 103 |
| Slacks Creek | $440 | −8.3% | 125 |
| Parkwood | $350 | −7.9% | 133 |
| Toowong | $469 | −7.9% | 1,249 |
South Australia
Figures published by South Australian Housing Trust
New tenants in South Australia paid a median of $500 a week in the March quarter 2025, up 6.6% on a year earlier.
It fell 3.8% on the quarter before.
About the same number of new leases were signed as a year earlier (15,535).
A 2-bedroom unit went for a median of $480 (up 9.1%) and a 3-bedroom house for $550 (up 5.8%).
Biggest rises over the year
| Place | Median | 1 year | New leases |
|---|---|---|---|
| Andrews Farm | $540 | +12.5% | 110 |
| Murray Bridge | $450 | +12.5% | 180 |
| Port Lincoln | $425 | +11.1% | 145 |
| Munno Para | $530 | +10.4% | 105 |
| Davoren Park | $485 | +10.2% | 110 |
Tasmania
Figures calculated from bond records published by Department of Justice (Tasmania)
New tenants in Tasmania paid a median of $475 a week in the March quarter 2025, up 5.6% on a year earlier.
It rose 3.3% on the quarter before.
3,893 new leases were signed, 9.7% fewer than a year earlier. That suggests fewer renters moved.
A 2-bedroom unit went for a median of $450 (up 4.7%) and a 3-bedroom house for $500 (up 1.0%).
Biggest rises over the year
| Place | Median | 1 year | New leases |
|---|---|---|---|
| West Hobart and Hobart (7000) | $500 | +37.9% | 334 |
| Park Grove and nearby (7320) | $420 | +27.3% | 135 |
| New Town and Lenah Valley (7008) | $520 | +14.3% | 130 |
| Devonport and East Devonport (7310) | $450 | +12.5% | 159 |
| South Hobart and Battery Point (7004) | $550 | +11.1% | 118 |
Biggest falls over the year
| Place | Median | 1 year | New leases |
|---|---|---|---|
| Kingston and Kingston Beach (7050) | $540 | −0.9% | 120 |
About this report
This report writes itself from the figures on this site. They're medians of new leases as each state published them, except Tasmania, where we work them out from the bond records. Rises and falls only count postcodes and suburbs with 100 or more new leases in the quarter. We leave out any figure our quality checks flagged for review (a move of more than 40% in a year). States sometimes revise past figures. This report uses the figures as we held them when it was built. For the details, see the methodology and the sources.