Ten Sydney suburbs with the biggest rent increases revealed

New data has revealed the ten suburbs with the largest increase in rent prices, as Australians grapple with an ongoing crisis.

New data has revealed rental prices in some suburbs have increased by almost 50 per cent in the past year, pushing a growing number of tenants to breaking point.

An analysis by national housing campaign Everybody’s Home showed rental prices have risen between 28 and 49 per cent across Sydney, forcing renters to choose between housing and food.

According to the assessment by the coalition of housing and welfare organisations, residents in Sydney’s eastern suburbs have seen rents soar by 48.6 per cent over the past 12 months.

Sydney suburbs have seen rent increase by a third on average over the last year. Picture: NCA NewsWire / Jeremy Piper

Tenants in the illustrious area have been forced to fork out $351 more a week for their rent, which amounts to an additional $18,250 per year at current rates.

Everybody’s Home spokesperson Maiy Azize said the situation was dire.

“There’s only so much people can afford to pay in rent,” she said.

“More Sydneysiders are being priced out of having their basic need for a home. Many are being forced to skip meals, avoid the doctor, and take out payday loans just to pay the rent.”

While rents have soared by more than 33 per cent across the city, vacancy rates are languishing at around 1.3 per cent.

Weekly rent in Sydney has risen sharply over the last year. Picture: SQM Research

The lack of available housing is pushing rental prices even higher as demand outstrips availability, a situation that experts say is not likely to resolve anytime soon.

Everybody’s Home has revealed the top ten suburbs worst affected by the rental hikes according to the SQM Research Weekly Rents Index for combined units and houses.

As of February 28, the eastern suburbs have experienced the highest rental hike in Sydney, followed closely by the Lower North Shore with a rental increase of $338 a week over the past year.

Sydney CBD was not far behind with a $303 increase in rental costs over the past 12 months, or a 41.8 per cent hike.

Rents increased by 38.3 per cent in Canterbury-Bankstown, the most populated local government area in the whole of NSW, while the vacancy rate was only 0.7 per cent.

The Inner West saw a rental spike of $184 a week, or just under 35 per cent, while St George trailed behind with a 34 per cent bump.

Tight rental supply means each available property is hotly contested. Picture: NCA NewsWire / Jeremy Piper

The Upper North Shore saw rents reach a dizzying $848 per week, representing a rise of just under $210 over the past 12 months.

Residents in Parramatta were forced to pay $136 more a week for rent over the past year due to a 30.7 per cent increase.

The Northern Beaches and Sutherland Shire had an equal rental cost increase of 30.2 per cent, resulting in weekly rental increases of $251 and more than $172 respectively.

Western Sydney rounded out the top ten Sydney areas worst affected by rental rises with a hike of $123 per week.

Record numbers of prospective tenants are appearing at rental viewings. Picture: NCA NewsWire / Jeremy Piper

With such staggering increases in rental costs, Ms Azize said time was running out for the government to act on the worsening rental situation.

“Right now, there’s no end to the housing crisis in sight,” she said.

“The sad reality is rents will keep climbing without government action.”

Data from the national housing campaign shows more than half of the renters in Sydney are in rental stress.

A map of Sydney shows the suburbs where renters are experiencing rental stress. Picture: Everybody's Home

Some suburbs have higher rates, with Sydney city recording two thirds of tenants in rental stress.

As the NSW election approaches, Everybody’s Home is calling on major parties to make “bold commitments” to mitigate the housing crisis and tackle housing affordability.

“With interest rates set to rise again this week, renters could be faced with another increase and unlike landlords, they don’t get tax handouts to help them stay afloat,” Ms Azize said.