With Treasury tipping a $2 a week rise in rents as a consequence of the federal budget, with its proposed overhaul to capital gains tax discounting and negative gearing, real-time rental price movements will be increasingly monitored.
Perhaps no more so that in Marrickville, since that’s where Prime Minister Anthony Albanese has his Sydney rental property.
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Anthony Albanese’s Marrickville rental in May 2025. Picture: realestate.com.au
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His former, unmortgaged, home was up for rent last May at $1450 a week.
It had first been available at $1350 in 2022, so the rental gain was a mild 2.8 per cent annualised compound increase, at a slower pace than the cost of living.
Of course it is too early to ascribe any rental price direction to the federal budget, especially as the tax changes are yet to get through the parliament, but we took a look at 25 offerings.
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Prime Minister Anthony Albanese. Picture: Josh Chadwick/Getty Images
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They showed Albanese’s gain was around half of the annualised gains taken by other landlords with varying tenancy periods since 2022.
Four current rentals are seeking no rise, including two after seemingly six month rentals. One stayed at $750 a week and the other stayed at $800.
Troublingly, the highest rental surge was also the cheapest. The data showed the Enmore Rd boarding house-style studio available at $415, up from $370 last November. It reflects a 25 per cent annualised surge.
Troublingly, the highest rental surge was also the cheapest.
The next highest rental increase was on Newington Rd, where a two-bedroom, one-bathroom apartment has a $700 a week asking rental, up on $450 in May 2022, the month of the election of the Labor government.
It reflects 11 per cent annualised gains.
Another big surge was on Hill St, jumping to $675 from its $600 asking rental in April last year. It recently sold for $695,000.
Rules limiting rent increases to no more than once per year came into force in NSW in October 2024.
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