The most heavily supplied apartment market per capita, keeping rents and values subdued.
Last updated 27 August 2026
Selected series for this market
Source: ABS Building Approvals 8731.0 · 2026 figure annualised from January–July data.
Source: ABS National, state and territory population
Australia told Gen Z that renting was the price they had to pay for being locked out of homeownership. Now rents are surging, wages are falling behind and young Australians are being priced out of the last stable housing option they had left. Are we creating the country’s first generation without a secure place to live?
Advertised rents in Perth are 7.1 per cent higher over the year, the fastest of any capital.
Melbourne enters spring with the deepest pool of stock of any capital city. Agents report vendors are pricing to meet the market rather than testing it, keeping clearance rates stable even as choice widens.
Sydney's clearance rate of 67.4 per cent is the highest of the capitals and has now held above 65 per cent since mid-June.
Adelaide continues to record the lowest advertised stock per capita of any mainland capital.