Tight residential vacancies and large rental gains in the regions in particular have underpinned a 13.7 per cent surge in rents nationally during the past 12 months, as tenants escaped coronavirus-struck cities for the country and the coast.

While the regional shift had shown signs of easing in recent months, a fresh round of lockdowns imposed on Sydney and Melbourne threatens to curb further city rental growth as tenants again seek housing outside the densely populated capitals.