Rental market report, March quarter 2026
Rents on new leases rose in every state with figures in the year to the March quarter 2026. South Australia rose the most (10.0%) and New South Wales the least (4.3%).
The states at a glance
All homes, March quarter 2026
| State | Median weekly rent | 1 year | New leases | Leases, 1 year |
|---|---|---|---|---|
| New South Wales | $720 | +4.4% | 80,709 | −4.0% |
| Queensland | $620 | +6.9% | 62,868 | +1.8% |
| South Australia | $550 | +10.0% | 15,135 | −2.6% |
| Tasmania | $520 | +9.5% | 3,990 | +2.5% |
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 $720 a week in the March quarter 2026, up 4.3% on a year earlier.
It rose 2.9% on the quarter before. This time of year usually runs 0.5% above the trend, so the change over the year is the fairer one to go by.
80,709 new leases were signed, 4.0% fewer than a year earlier. That suggests fewer renters moved.
A 2-bedroom unit went for a median of $765 (up 4.1%) and a 3-bedroom house for $650 (up 1.6%).
Biggest rises over the year
| Place | Median | 1 year | New leases |
|---|---|---|---|
| Waratah and Waratah West (2298) | $560 | +33.3% | 184 |
| Fairy Meadow and Balgownie (2519) | $725 | +20.8% | 140 |
| Lambton and North Lambton (2299) | $350 | +18.6% | 250 |
| Vaucluse and Dover Heights (2030) | $1,300 | +18.2% | 101 |
| Gladesville (2111) | $770 | +17.6% | 189 |
Biggest falls over the year
| Place | Median | 1 year | New leases |
|---|---|---|---|
| Mayfield (Newcastle) (2304) | $550 | −9.8% | 247 |
| Woollahra (2025) | $950 | −9.5% | 105 |
| Collaroy and Collaroy Plateau (2097) | $825 | −5.7% | 103 |
| Chester Hill and Sefton (2162) | $680 | −4.2% | 110 |
| Petersham and Lewisham (2049) | $700 | −4.1% | 292 |
Queensland
Figures published by Residential Tenancies Authority (Queensland)
New tenants in Queensland paid a median of $620 a week in the March quarter 2026, up 6.9% on a year earlier.
It fell 0.8% on the quarter before.
62,868 new leases were signed, 1.8% more than a year earlier.
A 2-bedroom unit went for a median of $650 (up 4.8%) and a 3-bedroom house for $620 (up 5.1%).
Biggest rises over the year
| Place | Median | 1 year | New leases |
|---|---|---|---|
| Slacks Creek | $550 | +25.0% | 106 |
| Gympie | $550 | +22.2% | 170 |
| Smithfield | $685 | +17.1% | 114 |
| New Farm | $700 | +16.7% | 298 |
| Brisbane City | $500 | +16.6% | 1,757 |
Biggest falls over the year
| Place | Median | 1 year | New leases |
|---|---|---|---|
| Toowoomba City | $265 | −33.8% | 137 |
| Salisbury | $435 | −26.3% | 108 |
| Moranbah | $580 | −10.8% | 220 |
| Gatton | $360 | −10.0% | 113 |
| Mackay | $420 | −8.7% | 117 |
South Australia
Figures published by South Australian Housing Trust
New tenants in South Australia paid a median of $550 a week in the March quarter 2026, up 10.0% on a year earlier.
That's unchanged from the quarter before.
15,135 new leases were signed, 2.6% fewer than a year earlier. That suggests fewer renters moved.
A 2-bedroom unit went for a median of $500 (up 4.2%) and a 3-bedroom house for $590 (up 7.3%).
Biggest rises over the year
| Place | Median | 1 year | New leases |
|---|---|---|---|
| Port Augusta | $350 | +16.7% | 105 |
| Mawson Lakes | $550 | +10.0% | 180 |
| Paralowie | $595 | +8.2% | 110 |
| Adelaide | $439 | +7.3% | 2,245 |
| Morphett Vale | $590 | +7.3% | 190 |
Biggest falls over the year
| Place | Median | 1 year | New leases |
|---|---|---|---|
| Prospect | $530 | −7.4% | 200 |
| Magill | $615 | −5.4% | 105 |
Tasmania
Figures calculated from bond records published by Department of Justice (Tasmania)
New tenants in Tasmania paid a median of $520 a week in the March quarter 2026, up 9.5% on a year earlier.
It rose 4.0% on the quarter before.
3,990 new leases were signed, 2.5% more than a year earlier.
A 2-bedroom unit went for a median of $475 (up 5.6%) and a 3-bedroom house for $550 (up 10.0%).
Biggest rises over the year
| Place | Median | 1 year | New leases |
|---|---|---|---|
| Riverside and nearby (7250) | $550 | +22.2% | 469 |
| West Hobart and Hobart (7000) | $575 | +15.0% | 318 |
| Newnham and Mowbray (7248) | $490 | +14.0% | 170 |
| Sandy Bay (7005) | $550 | +13.4% | 186 |
| South Launceston and Kings Meadows (7249) | $530 | +10.4% | 184 |
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.