Revealed: How much more Aussie renters will pay in 2030

Rents in parts of Australia are on course to shoot up by nearly a quarter in just a few years, leaving tenants paying jaw dropping sums.

Apartment supply failing to keep up with population growth could see Aussies spending over $1000 per week on two-bedroom apartments by 2030, according to new data from CBRE’s Apartment Vacancy and Rent Outlook.

The report states that by the end of the decade, rental shortages in Australia’s biggest cities will see vacancy rates drop drastically, driving up prices by an average of 24 per cent across our capitals.

The result will be one in three two-bed apartments renting out for more than $1000 per week, with 92 per cent of two-bedroom apartments forecast to have rents exceeding $700 per week.

Projected two-bedroom apartment rents over time to 2030 across Australia’s capital cities. Source: CBRE Apartment Vacancy and Rent Outlook.

However, the report found it was still cheaper to rent than buy, with monthly rents 30-40 per cent cheaper than alternate buy options at current prices.

As well as more expensive, the report projects that the rental market across Australia’s capitals is going to get more competitive.

CBRE expects national capital city vacancy rates to fall to 1.1 per cent by 2030, from 1.8 per cent in 2025.

This is in large part due to apartment supply failing to keep up with demand, according to the report.

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Brisbane’s vacancy rate is predicted to drop to its lowest ever by 2030. Picture: iStock.

Parramatta is one of 160 suburbs across Sydney, Melbourne and Brisbane where renters outnumber owner-occupiers. Picture: Supplied.

CBRE claims approximately 60,000 apartments are expected to be delivered each year from 2025 to 2030, while Australia’s forecast population growth requires an apartment supply of approximately 75,000 per year to avoid further falls in vacancy.

Vacancy rates across Sydney, Melbourne and Brisbane are set to take significant hits according to the report.

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The report claims it is still cheaper to rent than buy a two-bedroom apartment. Source: CBRE Apartment Vacancy and Rent Outlook.

Brisbane’s vacancy rate is predicted to drop as low as 0.7 per cent by 2030, equal to its lowest on record in May 2022.

It will be a challenge in particular for residents in 160 suburbs across Sydney, Melbourne and Brisbane where renters outnumber owner occupiers.

In Parramatta, Waterloo, North Sydney, Collingwood, Parkville, Fitzroy, Spring Hill, Newstead, and St Lucia, tenants make up more than half of residents, according to CBRE’s report.

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CBRE Pacific head of research Sameer Chopra.

On the flip side of the coin, these figures suggest a strong period of demand and rental yields for apartment investors.

CBRE’s Pacific head of research Sameer Chopra said apartment values have not kept pace with construction costs over the past five years, which makes the existing stock of apartments an “attractive market” for investors.

“CBRE expects apartment values to accelerate from 2025 as consumers adapt to higher income, low supply and scope for falling interest rates,” he said.

“Of the investor market, we see a growing share moving across to institutional build-to-rent (BTR) sector. And over the next five years, institutional BTR (will) comprise approximately 10 per cent of new apartment supply, equating to about 6,000 apartments per year.”

PROJECTED VACANCY RATES BY 2030

Source: CBRE Apartment Vacancy and Rent Outlook (September 2025).

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