Rents hit record highs, but is the pressure finally easing?

Rent growth has slowed and vacancies have edged up, but prices remain at the highest level ever.Rents across Australia remain at record highs, but prices growth has decelerated and renters have slightly more choice, according to REA's latest quarterly Rental Report.Whether it's a pause or a turning point is hard to say though, said report author and senior economic analyst Megan Lieu.Melbourne is now the cheapest capital city for renting a house, and has the highest vacancy. Picture: realestate.com.auMuch may depend on investors. With tax changes making residential property less appealing, agents and economists warn that fewer landlords could mean fewer homes to rent.The report found the national median advertised rent reached $675 a week in September, up 1.5% over the quarter and 5.5% over the year. That's about $10 a week more than in June, but a slower rise than the 2.3% recorded in the June quarter.Capital cities are driving the increase, with a median rent of $700 a week, up 1.4% over the quarter and 7.7% on a year ago.Source: realestate.com.au Rental Report September 2026Regional rents were flat over the quarter and are up 3.4% annually at $600, which is 14.3% below capital-c...