Renters rejoice! Australia's sky-high rental prices are finally slowing down for the first time in five years
Let's start with the bad news – rents remain at record highs in every capital city, except for Darwin houses. However, the pace of growth has slowed, with most capital cities either stalling or dropping to multi-year lows. In fact, this is the first time since 2019 that house rents across the combined capitals have remained stable for four consecutive quarters, with unit rents recording their weakest June quarter in four years and slowing annual growth to a 3.5-year low. Domain says this signals 'a clear turning point in the rental cycle.'
Domain's Chief of Research and Economics, Dr Nicola Powell explains, 'Cost of living pressures have reached a tipping point. Renters are maxed out and landlords are being forced to hold steady. We're also seeing a shift in demand – renters are downsizing or choosing units to stretch their budgets, which is why unit rents are now rising faster than houses.'
House rents in Sydney remain stratospherically high compared to the rest of the country. The average weekly rental price for a house in the Harbour City hit a record high of $780 – up just 0.6 per cent or $5 – marking the slowest June quarter growth in four years. In comparison, Perth 's average house rent also rose $5 to $700, while Canberra held steady at $700 – tying for the equal second-highest house rents in Australia. Rent for a house remained unchanged over the past quarter in Brisbane ($650), Adelaide ($620), Melbourne ($580) and Hobart ($570), and even decreased in Darwin from $700 to $650.
Sydney also tops the list for unit rents, with an average of $740 per week – up $15 from last quarter. By comparison, units are currently renting for $620 in Brisbane and Perth, $580 in Canberra, $575 in Melbourne, $560 in Darwin, $523 in Adelaide and $500 in Hobart. You can check out the full report here.
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Metro
25-07-2025
- Metro
New study reveals the cities where Brits have most disposable income in 2025
Link is copied Comments If you're coupled up in the UK, some cities will be kinder to you financially. That's according to new research from specialist mortgage lender Pepper Money, anyway. The company recently conducted a study to find where British couples have the least and most disposable income, and you'll be surprised by the results. While a northern gem came out on top, other cities - that are renowned for being pricey - also fared particularly well (Picture: Getty Images) Pepper Money explained that, while wages across the UK are rising, many Brits are finding they have less money left at the end of the month in certain areas. This means the average Brit's disposable income is shrinking, despite a national living wage increase and higher median salaries. The research - based on couples who own a home together - looked at essential outgoings such as mortgages, utility bills, and car finance, plus average wages. With all of these paid off, they then did the math to find out how much each couple was left with at the end of the month. Curious about how your home city fares in terms of disposable income? Here are the top 10 cities: (Picture: Getty Images) Average monthly salary: £2,304.13 Total bills: £1,418 Average disposable income available: £886.51 At number 10 is Manchester, which has an affordable cost of living, especially when compared to other large cities like London. Student accommodation site uhomes ranked Manchester the 13th cheapest place to live in the UK. In 2024, the Office for National Statistics (ONS) reported that the average house price in the northern city is £257,000. So, for couples with more money to burn at the end of the month, Manchester is a great place to spend it (Picture: Getty Images) Average monthly salary: £2,334.59 Total bills: £1,400 Average disposable income available: £934.48 Next up is Leeds, a major city in West Yorkshire. While it's not the cheapest place to live, it is considered generally more affordable than other major cities. In May 2025, the ONS revealed that the average house price here is £241,000. From exploring the historic Kirkgate Market to grabbing cocktails at one of the many indie bars, there's a lot to spend your extra cash on in Leeds (Picture: Getty Images) Average monthly salary: £2,352.12 Total bills: £1,381 Average disposable income available: £971.33 The third northern (and second Yorkshire) city to make the list is Sheffield. The cost of living is significantly lower than Manchester's - according to the Sheffield College, it's 10% lower than the national average, and 25% lower than London. House prices here average at £221,000 as of January 2025 (Picture: Getty Images) Average monthly salary: £2,226.75 Total bills: £1,248 Average disposable income available: £978.80 Liverpool has so much going for it. From the iconic Docks to delving into the music scene at the Cavern Club, there's never a dull moment in the city. And, there's always an activity to spend your cash on. Expatistan estimates the cost of living in Liverpool is 47% cheaper than London, while house prices average around £180,000. This is way cheaper than the previous fellow northern cities on this list (Picture: Getty Images) Average monthly salary: £2,257.82 Total bills: £1,241 Average disposable income available: £1,016.72 Further down south to the Midlands now, and Nottingham has come in at a respectable sixth place. According to whatuni, the cost of living in Nottingham is quite close to the national average, but is around 18% cheaper than London. But, Rightmove prices houses a little higher, at £265,448 on average. With couples having over a grand to spend per month, it's worth checking out Nottingham Castle, the City of Caves, and the Old Market Square (Picture: Getty Images) Average monthly salary: £2,120.69 Total bills: £1,100 Average disposable income available: £1,020.95 In 2024, the cost of living in Belfast was around 37% lower than in London. As of the first quarter of 2024, the average house price in Northern Ireland's capital was approximately £216,098. There's so much to do in Belfast that suits every kind of person, from taking part in a seisiún (traditional Irish music session) in a local pub to diving into the city's history at Belfast City Hall. Or, experiencing the vibrant atmosphere of St. George's Market (Picture: Getty Images) Average monthly salary: £2,439.84 Total bills: £1,300 Average disposable income available: £1,140.18 Glasgow is considered to be more affordable than Edinburgh, Scotland's capital, and the UK's capital in general. Living in Glasgow is, on average, 20% cheaper than in London and 10% cheaper than the rest of the UK. House prices are also way more affordable, coming in at £188,000 as per the ONS. And, with almost £1,200 to spare after monthly outgoings, couples can enjoy the best of the Scottish city. The Kelvingrove Art Gallery and Museum, the Riverside Museum, and strolling through the Glasgow Botanic Gardens are highlights. Glasgow also has a thriving nightlife ready and waiting for you to splash the cash, too (Picture: Getty Images) Average monthly salary: £2,760.42 Total bills: £1,581 Average disposable income available: £1,179.25 Considering Edinburgh is renowned for being an incredibly expensive city, it's quite shocking to see it offering one of the highest disposable incomes in the UK. In 2023, it was actually named the third most expensive city to live in in the UK. Still, for home-owning couples (the average price sits at around £295,000), Edinburgh is a vibrant city that can provide a high standard of living. From the annual Fringe festival, exploring Edinburgh Castle to taking part in a Scotch Whisky Experience, there's never a dull moment in the Scottish capital (Picture: Getty Images) Average monthly salary: £2,671.22 Total bills: £1,340 Average disposable income available: £1,331.11 At number two is Coventry, where couples have over £1,300 to fritter away each month. In contrast to Edinburgh, the cost of living is a lot lower here. So are house prices, averaging around £224,000. Though Coventry isn't considered a 'day tripping' kind of town, it has a lot to offer residents. This includes Coventry Cathedral and FarGo Village, the city's creative quarter (Picture: Getty Images) Average monthly salary: £2,775.69 Total bills: £1,304 Average disposable income available: £1,471.27 Last but not least, it's Newcastle. With almost £1,500 of disposable income for couples, the city can be enjoyed without having to stress too much about money. Not only this, but Newcastle is known for being quite an affordable place to live: it's 23.0% less expensive than London, and has an average house price of £237,760. So, what can you spend your hard-earned cash on? Why not catch a show at the Theatre Royal, immerse yourself in live music at the Glasshouse International Centre for Music, or take a guided tour of Victoria Tunnel, a preserved 19th-century coal waggonway and wartime air-raid shelter. Even walking through the cobbled streets of Newcastle, and hopping into one of the many restaurants and bars, is a lovely way to while away your spare time (Picture: Getty Images)
The Guardian
23-07-2025
- The Guardian
House prices rise in every Australian capital city together for first time in four years
Australia's eight state and territory capital cities posted simultaneous house price rises for the first time in four years last quarter as interest rate cuts underpinned a wave of buying. After a brief reprieve in 2024, prices accelerated in Sydney and Melbourne while Australia's smaller capitals retained momentum, according to June quarter data from property portal Domain. 'It doesn't matter the capital city, it doesn't matter the property type, prices are rising,' Domain's chief of research and economics, Nicola Powell, said. More than 1,700 suburbs around Australia saw house values rise over the year to June, with suburban Perth seeing some of the biggest jumps. About 400 suburbs saw prices fall over the year. Prices picked up in every capital city across building types over the three months to June, the first time in four years for houses and the first time in two years for units. Broad-based demand surges saw prices rise on an annual basis for both houses and units across most capital cities, excluding houses in Darwin, units in Melbourne and both types in Canberra. Sign up: AU Breaking News email Demand jumped nationwide after the Reserve Bank's two cuts to interest rates in 2025 increased borrowing capacity, which Cotality data indicated had pushed more bidders to auctions and driven clearance rates close to 70%. Clearance rates refer to the percentage of properties sold at auction, compared with the total number of properties listed to go under the hammer. Prospective buyers shared stories with Guardian Australia of trying to purchase a house during a fast-rising market, with many repeatedly outbid. While prices are still rising, buying momentum has eased in some overheated capitals, including Brisbane and Adelaide, after median prices surpassed $1m. Sign up to Breaking News Australia Get the most important news as it breaks after newsletter promotion 'That just locks out so many people from purchasing a house, and it does shift demand towards units … because of the landscape of affordability,' Powell said. 'Some buyers have to seek more affordable alternatives, and units obviously present that.' While Brisbane houses saw prices rise 7.5% in the year to June, apartment prices rose 13.3%. The three months to June saw apartment price growth outstrip house price hikes in Melbourne, Brisbane, Adelaide, Canberra and Darwin. Apartment prices were starting to catch up to the pace of house prices as homebuyers and investors switched their focus towards relatively cheaper units, according to Chyi Lin Lee, professor of property at the University of New South Wales. 'What we've seen here is houses leading the units, so we can see the unit prices actually catching up,' Lee said. He said interest in apartments had likely also risen as buyers looked to escape renting and investors seek to take advantage of the persistent surge in rental costs. Cotality data released on Thursday indicated rents had leapt more than 40% since 2020, with median asking prices up nearly $200 per week, or more than $10,000 annually. Rent hikes have since slowed to just 3.4% annually in the year to June, the weakest 12-month increase since 2021 and the equivalent of a $22 weekly increase on the median rent, Cotality found. Property prices, though, are expected to continue to accelerate as the Reserve Bank cuts interest rates further, with a third cut expected when the RBA board meets in August. Analysts have not forecast a property price boom given so many Australians have already been priced out of the market, with AMP predicting home prices will rise no more than 6% annually.
Scotsman
17-07-2025
- Scotsman
Edinburgh named among UK's top cities for disposable income, new study finds
Edinburgh has been ranked as the third-best city in the UK for disposable income among couples who own a home, according to new research by specialist mortgage lender Pepper Money. Sign up to our daily newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... The study, which analysed average salaries, essential outgoings, and cost of living across major UK cities, found that homeowning couples in Edinburgh are left with an average of £1,179.25 in disposable income each month—after covering mortgages, bills, and other essentials. This puts Edinburgh just behind Newcastle (£1,471.27) and Coventry (£1,331.11), and well ahead of major cities such as Glasgow, Manchester, and London. Advertisement Hide Ad Advertisement Hide Ad Top UK Cities for Disposable Income (Couples Who Own a Home): A pile of British currency City Average monthly salary Total bills The average disposable income available Newcastle £2,775.69 £1,304 £1,471.27 Coventry £2,671.22 £1,340 £1,331.11 Edinburgh £2,760.42 £1,581 £1,179.25 Glasgow £2,439.84 £1,300 £1,140.18 Belfast £2,120.69 £1,100 £1,020.95 Nottingham £2,257.82 £1,241 £1,016.72 Liverpool £2,226.75 £1,248 £978.80 Sheffield £2,352.12 £1,381 £971.33 Leeds £2,334.59 £1,400 £934.48 Manchester £2,304.13 £1,418 £886.51 Birmingham £2,248.71 £1,378 £870.62 Bristol £2,544.44 £1,739 £805.84 Cardiff £2,176.08 £1,475 £700.66 Leicester £1,913.12 £1,349 £563.96 London £3,026.21 £2,585 £441.58 Despite the rising cost of living, Edinburgh's strong income levels and relative affordability for homeowners give it one of the highest levels of financial breathing room in the UK. Renters and Single Homeowners Face a Tougher Landscape The report also highlights a growing disparity between homeowners and renters. While couples in Edinburgh enjoy one of the UK's highest disposable incomes, renters in cities such as Bristol and Leicester face far greater financial pressure. Meanwhile, single homeowners in high-cost areas like London, Bristol, and Cardiff are now running at a monthly deficit, with essential bills outstripping income. Advertisement Hide Ad Advertisement Hide Ad Credit Card Debt on the Rise—and How Homeowners Can Free Up Cash The findings come at a time of mounting financial pressure, with average UK credit card debt now at £2,572. For many households, that means relying on credit for everyday costs. At a repayment rate of £100 per month, it would take over two years to clear this balance—assuming no new debt is added. With disposable income stretched thin, Pepper Money highlights how second charge mortgages (also known as a homeowner loan) can help households consolidating high-interest debt, and reduce monthly repayments, without giving up their existing mortgage deal. This can create extra breathing room to: Pay off high-interest debt Cover rising childcare or utility costs Save for emergencies However, Pepper Money encourages all homeowners to seek professional financial advice, as secured loans can increase the total amount repaid over time. Methodology Pepper Money analysed average salaries, essential monthly outgoings—including mortgage or rent payments, council tax, utility bills, groceries, and car finance—across major UK cities. Disposable income was calculated as the amount left after these expenses, based on publicly available data sources as of July.
