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The most unaffordable suburbs in Australia – and you won’t believe how expensive they are

When it comes to paying rent, Australians are hit harder than most.

And recent figures from the Rental Affordability Index (RAI) show renters living in Sydney’s north do it tougher than anywhere else across the nation.

The officially most expensive rental postcode in Australia is 2061, which includes upmarket Kirribilli and Milsons Point.  

Weekly prices reach $1400 for some properties located in the two waterfront suburbs, with a RAI of 56.

Living in Kirribilli (pictured) has its perks, but it doesn’t come cheap – with some renters paying up to $1400 a week

The Olympic pool and Luna Park (pictured) are two of the attractions that come with residing in Milsons Point - but it isn't a viable option for many renters

The Olympic pool and Luna Park (pictured) are two of the attractions that come with residing in Milsons Point – but it isn’t a viable option for many renters

Generally, the rule of thumb is the lower the RAI, the higher the level of rental unaffordability.

Renting in St Ives (2075), also on Sydney’s leafy north shore, doesn’t offer much value to renters.

Some houses in the area cost $1100 a week to rent, with units close to $650, according to CoreLogic.

Still in Sydney, Pyrmont (2009) is next on the list, with an RAI of 59.

Renters can expect to fork out weekly sums of at least $800 for houses, and $750 for units.

Eastern suburbs including glamour suburbs like Point Piper, Edgecliff and Darling Point (2027) also have an RAI of 59.

St Ives, on Sydney's leafy north shore, (pictured) is great for families - but not generally for money conscious renters

St Ives, on Sydney’s leafy north shore, (pictured) is great for families – but not generally for money conscious renters

Brighton East (pictured) in Melbourne is a glamour suburb - with renters scarce 

Brighton East (pictured) in Melbourne is a glamour suburb – with renters scarce 

Rozelle (2039), in Sydney’s inner-west, rounds out the top five, with an RAI of 60.

The next four postcodes are also based in Sydney — Bondi Junction (2022), Willoughby (2068), Bronte (2024) and Manly (2095).

The only non Sydney postcode to feature in the top 10 was Brighton East (3187) in Melbourne.

The suburb attracts a median house rent of $755 per week, while the average unit will set renters back $630 each week.   

THE 10 MOST EXPENSIVE
POSTCODES TO RENT IN AUSTRALIA

1. 2061 (Kirribilli and Milsons Point) RAI 56

2. 2075 (St Ives) RAI 58

3. 2009 (Pyrmont) RAI 59

4. 2027 (Point Piper, Edgecliff and Darling Point) RAI 59

5. 2039(Rozelle) RAI 60

6. 2022 (Queens Park, Bondi Junction)

7. 2068 (Middle Cove, Castlecrag, Willoughby)

8. 2024 (Bronte, Waverley)

9. 2095 (Manly)

10. 3187 (Brighton East)

Source: realestate.com.au 

 

Read more at DailyMail.co.uk


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