Australia’s most affordable rental suburbs of 2024, plus more news

For PropertyGuru’s real estate news roundup, January in Australia is the busiest month for renters, with the highest rents in the larger capital cities and the cheapest in regional areas. In other news, Vietnam’s Prime Minister Pham Minh Chinh ordered ministries, sectors, and localities to strengthen oversight and address real estate market manipulation and speculation. Lastly, artificial intelligence applications are rapidly expanding across industries, and to meet the exponential data centre demand, the sector will grow phenomenally in 2025.

Australia’s most affordable rental suburbs of 2024 revealed

January is the busiest month of the year for renters, with listings reaching a 12-month high and more renters actively seeking new homes. However, despite the abundance of listings, the search for affordable rental properties remains challenging for many. Across most regions and capital cities in Australia, median weekly rents are at an all-time high, making it increasingly difficult for renters to find affordably priced homes. According to PropTrack, the highest rents continue to be in the larger capital cities, with Sydney taking the lead at a steep AUD730 per week. In contrast, the cheapest rents are found in regional areas. For instance, Whyalla Stuart in South Australia’s outback claims the title of the most affordable rental suburb in the country, with a median house rent of just AUD280.

Vietnam PM orders settlement of realty manipulation, speculation

Prime Minister Pham Minh Chinh signed an official dispatch on 15th January, ordering ministries, sectors, and localities to strengthen oversight and address real estate market manipulation and speculation. VietnamPlus reports that despite the Government’s drastic directions and measures to remove roadblocks in the real estate sector, the market still faces several issues such as limited housing supply, especially affordable housing for middle- and low-income people, high property prices due to speculative activities and market manipulation by certain investor groups and brokers, and insufficient and opaque market information. To address these challenges, the Government leader ordered ministers, heads of sectors, and the chairpersons of the People’s Committees of centrally-run cities and provinces to effectively carry out related resolutions, directives, decisions and dispatches, ensuring that the market develops in a safe, healthy, and sustainable fashion.

Global data centre demand surges despite supply and power constraints – JLL

Artificial intelligence applications are rapidly expanding across industries, and the global data centre industry plays a critical role in AI adoption and advancement. To meet the exponential data centre demand, the sector will grow at a phenomenal pace in 2025. JLL’s 2025 Global Data Center Outlook explores how AI is not only driving demand but also the development of more powerful and efficient data centre infrastructure. Rapid expansion brings challenges, including demand outstripping supply and electricity development constraints in some markets. “The pace of AI innovation is not slowing down, and the data centre industry must continue to adapt,” said Jonathan Kinsey, JLL EMEA Lead and Global Chair, Data Centre Solutions, in RETalk Asia.

The Property Report editors wrote this article. For more information, email: [email protected].