Domain’s latest Quarterly Rent Report reveals Canberra’s rental market is holding at record highs, despite a sharp tightening in rental supply.

Canberra house rents held at $700 per week, while unit rents sat at $580 per week.

The vacancy rate at 0.8% is at the lowest level since June 2022, however despite the significant reduction in available rental stock, rents have remained flat.

The numbers highlighting a lag between tightening supply and rental growth, with affordability likely limiting the pass-through to rents.

Domain’s Chief Residential Economist, Dr Nicola Powell, says Canberrans have hit their rental affordability ceilings.

“Vacancy rates are lower than ever and supply remains incredibly tight, but rent growth is no longer accelerating everywhere. That tells us households simply can’t stretch any further.”

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