Secret takeaways Capital city rental markets have continued to tighten over February with many cities reporting lower job rates for both homes and systems. A lot of capitals reported higher or steady house rents over the month with Hobart the top entertainer up by 1.7% followed by Perth greater by 1.4%, Darwin up 0.2% with Melbourne and Adelaide constant.
House job rates once again predicably reduced in most capitals over February showing the typical surge in early year demand.
Capital city rental markets have actually continued to tighten over February with a lot of cities reporting lower vacancy rates for both houses and units.
A lot of capitals reported greater or stable home leas over the month with Hobart the top performer up by 1.7% followed by Perth higher by 1.4%, Darwin up 0.2% with Melbourne and Adelaide stable.
Canberra house leas fell by 1.0%, Brisbane was down by 1.8% and Sydney fell 2.4% over the month.
Sydney continued to report the highest capital city home leas over February but lower at $800 per week with Melbourne continuing as the most budget friendly and steady at $580 weekly.
Hobart, Perth and Brisbane have recorded solid annual boosts in house rents up by 7.8%, 5.7% and 5.4% respectively with Adelaide higher by 2.8% and Canberra up 2.5%.
Sydney home rents have been constant over the previous year with Melbourne down 1.7% and Darwin falling 3.2%.
Home job rates once again predicably reduced in the majority of capitals over February reflecting the typical surge in early year demand.
Rates continue at very low levels with all at or below 1.5% and clearly putting upward pressure on rents.
Mean weekly asking rents February 2026 – Homes
| Lease | Month | Year | Vacancy Rate | Modification | |
| Sydney | $800 | -2.4% | 0.0% | 1.2% | ↓ |
| Melbourne | $580 | 0.0% | -1.7% | 1.2% | ↓ |
| Brisbane | $685 | -1.8% | 5.4% | 0.8% | ↓ |
| Adelaide | $640 | 0.0% | 2.8% | 0.9% | ↓ |
| Perth | $740 | 1.4% | 5.7% | 0.8% | ↓ |
| Hobart | $608 | 1.7% | 7.8% | 0.5% | ↔ |
| Darwin | $751 | 0.2% | -3.2% | 0.4% | ↓ |
| Canberra | $718 | -1.0% | 2.5% | 1.0% | ↓ |
Systems
Unit rental markets likewise usually tightened up over February although rental development was mixed.
Perth was the top regular monthly entertainer with unit rents increasing by 1.8% followed by Adelaide greater by 0.9% and Melbourne up 0.8%.
Unit leas however fell in all the other capitals with Brisbane down 0.5%, Darwin lower by 1.2%, Canberra down 1.3%, Sydney lower by 1.9%, and Hobart down 2.2%.
Yearly system leas have actually increased in all capitals except steady Melbourne with Darwin, Perth, Sydney, Brisbane and Adelaide highest, up by 11.5%, 7.7%, 6.1%, 5.9% and 5.5% respectively.
Sydney remains the clear leader for weekly system rents however lower at $785, with Hobart still clearly the most budget friendly and lower at $493 per week.
Similar to homes, capital city system vacancy rates were primarily lower over the month reflecting the usual February seasonal effects with a lot of remaining plainly low and suggesting a continuous scarcity of offered properties.
Average weekly asking leas February 2026 – Systems
| Rent | Month | Year | Job Rate | Change | |
| Sydney | $785 | -1.9% | 6.1% | 1.1% | ↓ |
| Melbourne | $600 | 0.8% | 0.0% | 1.7% | ↓ |
| Brisbane | $675 | -0.5% | 5.9% | 1.1% | ↔ |
| Adelaide | $550 | 0.9% | 5.5% | 1.0% | ↔ |
| Perth | $700 | 1.8% | 7.7% | 0.6% | ↔ |
| Hobart | $493 | -2.2% | 0.8% | 0.9% | ↓ |
| Darwin | $633 | -1.2% | 11.5% | 0.7% | ↓ |
| Canberra | $585 | -1.3% | 2.6% | 1.4% | ↓ |
Although migration development has continued to decrease and first home buyer numbers have actually surged, this has been offset by lower brand-new supply that has actually added to maintaining low job rates into 2026.
Capital city rental markets have actually normally continued to report tightening up conditions into February 2026 with falling vacancy rates that remain definitively low for both houses and units– results set to continue through 2026 and set to place upward pressure on rents.
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