National Rental Affordability Scheme (NRAS) – Market index

Introduction

The NRAS market value rent is indexed according to movements in the Rents component of the Housing Group of the Consumer Price Index for the year, December quarter to December quarter as at 1 March, using the capital city index for the relevant state, rounded to the nearest single decimal point, and is effective from 1 May.

The NRAS market index values for 2023-24 and 2022-23 are below. Historical NRAS market index values can be found in the information sheet above.

NRAS Market Index Values

NRAS market index for 2023-24 NRAS year (1 May 2023 – 30 April 2024)

Jurisdiction

Percentage change from corresponding
quarter of previous year – Dec 2021

Sydney / New South Wales  3.3
Melbourne / Victoria  2.2
Brisbane / Queensland 6.0
Adelaide / South Australia  4.9
Perth / Western Australia  8.0
Hobart / Tasmania  4.7
Darwin / Northern Territory  7.8
Canberra / Australian Capital Territory  6.0

 

The NRAS market index for the 2022-23 NRAS year (1 May 2022 – 30 April 2023)

Jurisdiction Percentage change from corresponding
quarter of previous year – Dec 2020
Sydney / New South Wales -1.9
Melbourne / Victoria -1.1
Brisbane / Queensland  3.0
Adelaide / South Australia  2.5
Perth / Western Australia 7.9
Hobart / Tasmania  5.6
Darwin / Northern Territory 8.0
Canberra / Australian Capital Territory 3.0

 

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