What our analysis shows
Our calculations, data as of 23 October 2026
- In Sydney a detached one-bedroom dwelling, the bond category most granny flats fall into, rented for a median $550 a week in July–September 2026, 24% below a one-bedroom flat ($719). We counted 1,166 detached and 12,039 flat bonds.
- The discount is mostly a Sydney effect. In Western Sydney it was 22%; on the Central Coast and in regional NSW 2–4%; in Hobart detached one-bedroom dwellings rented 8% above flats.
- Postcodes matter more than regions. Across 112 NSW postcodes with enough bonds, the median detached two-bedroom rent ran from $345 to $1,275 a week; the table below lists them all.
- A second bedroom is worth most in outer suburbs and regional cities: $240 a week in Newcastle and $200 in Townsville, against $60 in Brisbane.
Highest median 2-bedroom rents in our areas
- Gold Coast (QLD)$750 / wk
- City of Melbourne (VIC)$678 / wk
- Greater Sydney (NSW)$650 / wk
- Brisbane (QLD)$650 / wk
- Sunshine Coast (QLD)$650 / wk
- Hills and north-west (NSW)$640 / wk
- Newcastle (NSW)$640 / wk
- Eastern Adelaide (SA)$628 / wk
Median weekly rent of new bonds: detached 2-bedroom dwellings in NSW and Tasmania; 2-bedroom houses in Queensland, Victoria and SA, which run higher than a backyard flat would.
The granny flat discount
NSW publishes every new bond with its dwelling type: house, flat, terrace or other. A detached one- or two-bedroom "house" in Sydney is very often a granny flat, because one-bedroom houses are otherwise rare. Tasmania publishes the same detail.
| Area | 1-bed detached | 1-bed flat | Difference | Detached bonds |
|---|---|---|---|---|
| Greater Sydney (NSW) | $550 | $719 | -24% | 1,166 |
| Western Sydney (NSW) | $450 | $580 | -22% | 263 |
| South-west Sydney (NSW) | $440 | $420 | 5% | 82 |
| Hills and north-west (NSW) | $480 | $650 | -26% | 37 |
| Newcastle (NSW) | $400 | $450 | -11% | 92 |
| Wollongong (NSW) | $460 | $480 | -4% | 41 |
| Central Coast (NSW) | $420 | $430 | -2% | 106 |
| Rest of NSW (NSW) | $380 | $395 | -4% | 661 |
| Greater Hobart (TAS) | $428 | $395 | +8% | 62 |
| Launceston (TAS) | $350 | $350 | 0% | 27 |
| North-west coast (TAS) | $300 | $300 | 0% | 22 |
| All Tasmania (TAS) | $370 | $370 | 0% | 129 |
Sydney apartments are often newer, close to rail and fully private, while a granny flat shares a driveway, bins and a fence line with the owner's family. Where apartments are older and fewer, as in Hobart or regional NSW, the detached dwelling holds its rent. South-west Sydney is the exception inside Sydney, but with only 82 detached and 53 flat bonds the difference is within the noise. When you estimate your rent, compare with granny flats nearby, not apartments.
All areas
New South Wales
| Area | 1 bed | 2 bed | Basis |
|---|---|---|---|
| Greater Sydney | $550 | $650 | detached dwelling |
| Western Sydney | $450 | $560 | detached dwelling |
| South-west Sydney | $440 | $500 | detached dwelling |
| Hills and north-west | $480 | $640 | detached dwelling |
| Newcastle | $400 | $640 | detached dwelling |
| Wollongong | $460 | $600 | detached dwelling |
| Central Coast | $420 | $550 | detached dwelling |
| Rest of NSW | $380 | $520 | detached dwelling |
Source: NSW Fair Trading bonds, Jul–Sep 2026. Medians of new bonds.
Queensland
| Area | 1 bed | 2 bed | Basis |
|---|---|---|---|
| Brisbane | $590 | $650 | 1-bed flat / 2-bed house |
| Gold Coast | $615 | $750 | 1-bed flat / 2-bed house |
| Sunshine Coast | $500 | $650 | 1-bed flat / 2-bed house |
| Moreton Bay | $340 | $525 | 1-bed flat / 2-bed house |
| Logan | $315 | $500 | 1-bed flat / 2-bed house |
| Ipswich | $370 | $500 | 1-bed flat / 2-bed house |
| Redland | $400 | $490 | 1-bed flat / 2-bed house |
| Toowoomba | $350 | $480 | 1-bed flat / 2-bed house |
| Townsville | $320 | $520 | 1-bed flat / 2-bed house |
| Cairns | $420 | $600 | 1-bed flat / 2-bed house |
Source: RTA, Sep quarter 2026. Medians of new bonds.
Victoria
| Area | 1 bed | 2 bed | Basis |
|---|---|---|---|
| City of Melbourne | $570 | $678 | 1-bed flat / 2-bed house |
| Merri-bek | $450 | $600 | 1-bed flat / 2-bed house |
| Darebin | $420 | $580 | 1-bed flat / 2-bed house |
| Monash | $495 | $589 | 1-bed flat / 2-bed house |
| Whitehorse | $450 | $580 | 1-bed flat / 2-bed house |
| Brimbank | $330 | $450 | 1-bed flat / 2-bed house |
| Wyndham | $420 | $420 | 1-bed flat / 2-bed house |
| Hume | $350 | $460 | 1-bed flat / 2-bed house |
| Whittlesea | $375 | $480 | 1-bed flat / 2-bed house |
| Casey | $340 | $500 | 1-bed flat / 2-bed house |
| Knox | $405 | $545 | 1-bed flat / 2-bed house |
| Frankston | $385 | $500 | 1-bed flat / 2-bed house |
| Greater Geelong | $340 | $440 | 1-bed flat / 2-bed house |
| Ballarat | $288 | $370 | 1-bed flat / 2-bed house |
| Greater Bendigo | $350 | $450 | 1-bed flat / 2-bed house |
Source: Homes Victoria, Sep quarter 2025. Medians of new bonds.
South Australia
| Area | 1 bed | 2 bed | Basis |
|---|---|---|---|
| Northern Adelaide | $360 | $500 | 1-bed flat / 2-bed house |
| Western Adelaide | $390 | $585 | 1-bed flat / 2-bed house |
| Eastern Adelaide | $495 | $628 | 1-bed flat / 2-bed house |
| Southern Adelaide | $398 | $550 | 1-bed flat / 2-bed house |
| Adelaide metro | $474 | $563 | 1-bed flat / 2-bed house |
| Regional SA | $260 | $380 | 1-bed flat / 2-bed house |
Source: SA Housing Trust, Apr–Jun 2026. Medians of new bonds.
Tasmania
| Area | 1 bed | 2 bed | Basis |
|---|---|---|---|
| Greater Hobart | $428 | $520 | detached dwelling |
| Launceston | $350 | $495 | detached dwelling |
| North-west coast | $300 | $445 | detached dwelling |
Source: Tasmanian bonds, Jan–Jun 2026. Medians of new bonds.
What a second bedroom adds
The weekly difference between the two-bedroom and one-bedroom medians in each area, largest first:
| Area | Extra rent for the 2nd bedroom |
|---|---|
| Newcastle (NSW) | $240 / wk |
| Townsville (QLD) | $200 / wk |
| Western Adelaide (SA) | $195 / wk |
| Moreton Bay (QLD) | $185 / wk |
| Logan (QLD) | $185 / wk |
| Cairns (QLD) | $180 / wk |
| Hills and north-west (NSW) | $160 / wk |
| Darebin (VIC) | $160 / wk |
| Casey (VIC) | $160 / wk |
| Southern Adelaide (SA) | $153 / wk |
A second bedroom adds about 15 m² and roughly $40,000 to the build in our model. At $100 a week more rent it pays for itself in about ten years after tax; at $150 or more, faster than the flat as a whole. Details in one versus two bedrooms. Remember that rent from a flat on your home block makes part of a later sale taxable; see capital gains tax.
NSW by postcode
Median rent for detached two-bedroom dwellings in every NSW postcode with at least 15 new bonds in July–September 2026, and for one bedroom where there were at least 10. In inner suburbs this category also holds terraces and cottages, so treat those figures as a ceiling for a backyard flat.
Show all 112 postcodes
| Postcode | 2-bed detached | Bonds | 1-bed detached |
|---|---|---|---|
| 2010 | $1,035 | 35 | $740 |
| 2016 | $998 | 20 | $779 |
| 2017 | $1,100 | 15 | $863 |
| 2021 | $1,150 | 29 | – |
| 2026 | $1,275 | 30 | $890 |
| 2035 | $945 | 18 | – |
| 2037 | $900 | 25 | $620 |
| 2040 | $900 | 32 | – |
| 2041 | $960 | 23 | – |
| 2042 | $900 | 60 | $458 |
| 2043 | $950 | 19 | – |
| 2065 | $1,050 | 17 | – |
| 2077 | $665 | 29 | – |
| 2121 | $680 | 16 | – |
| 2131 | $685 | 16 | – |
| 2140 | $740 | 18 | – |
| 2141 | $638 | 16 | – |
| 2144 | $650 | 18 | – |
| 2145 | $645 | 81 | $487 |
| 2146 | $600 | 15 | – |
| 2147 | $573 | 40 | $450 |
| 2148 | $560 | 105 | $375 |
| 2150 | $660 | 31 | $505 |
| 2151 | $650 | 15 | – |
| 2153 | $675 | 26 | – |
| 2154 | $800 | 21 | $370 |
| 2155 | $688 | 32 | – |
| 2160 | $600 | 26 | – |
| 2161 | $600 | 25 | – |
| 2164 | $560 | 16 | – |
| 2165 | $580 | 27 | $380 |
| 2166 | $500 | 23 | $325 |
| 2168 | $520 | 33 | – |
| 2170 | $553 | 72 | $505 |
| 2174 | $595 | 18 | – |
| 2179 | $580 | 17 | $428 |
| 2195 | $560 | 15 | – |
| 2196 | $625 | 22 | – |
| 2200 | $650 | 28 | – |
| 2204 | $900 | 25 | – |
| 2216 | $765 | 18 | – |
| 2217 | $780 | 22 | – |
| 2232 | $685 | 19 | – |
| 2250 (outside Sydney) | $575 | 73 | $400 |
| 2251 (outside Sydney) | $600 | 17 | – |
| 2256 (outside Sydney) | $560 | 29 | – |
| 2257 (outside Sydney) | $560 | 65 | $455 |
| 2259 (outside Sydney) | $510 | 65 | – |
| 2260 (outside Sydney) | $600 | 20 | – |
| 2261 (outside Sydney) | $573 | 72 | – |
| 2262 (outside Sydney) | $495 | 24 | – |
| 2263 (outside Sydney) | $520 | 63 | – |
| 2280 (outside Sydney) | $620 | 23 | – |
| 2283 (outside Sydney) | $550 | 19 | – |
| 2285 (outside Sydney) | $610 | 29 | – |
| 2287 (outside Sydney) | $600 | 37 | $270 |
| 2289 (outside Sydney) | $620 | 29 | – |
| 2290 (outside Sydney) | $600 | 35 | – |
| 2291 (outside Sydney) | $680 | 18 | – |
| 2300 (outside Sydney) | $710 | 22 | $543 |
| 2303 (outside Sydney) | $650 | 19 | – |
| 2304 (outside Sydney) | $660 | 28 | – |
| 2320 (outside Sydney) | $520 | 43 | – |
| 2321 (outside Sydney) | $520 | 40 | – |
| 2322 (outside Sydney) | $565 | 24 | – |
| 2323 (outside Sydney) | $530 | 22 | – |
| 2325 (outside Sydney) | $490 | 65 | – |
| 2327 (outside Sydney) | $500 | 15 | – |
| 2333 (outside Sydney) | $370 | 16 | – |
| 2340 (outside Sydney) | $420 | 66 | $300 |
| 2350 (outside Sydney) | $400 | 39 | $270 |
| 2380 (outside Sydney) | $405 | 18 | – |
| 2430 (outside Sydney) | $440 | 24 | $375 |
| 2444 (outside Sydney) | $520 | 41 | $249 |
| 2450 (outside Sydney) | $530 | 27 | $250 |
| 2460 (outside Sydney) | $470 | 20 | – |
| 2478 (outside Sydney) | $660 | 15 | – |
| 2480 (outside Sydney) | $540 | 22 | – |
| 2500 (outside Sydney) | $680 | 38 | $525 |
| 2528 (outside Sydney) | $560 | 17 | – |
| 2536 (outside Sydney) | $490 | 23 | – |
| 2539 (outside Sydney) | $550 | 17 | – |
| 2540 (outside Sydney) | $480 | 47 | – |
| 2541 (outside Sydney) | $460 | 37 | – |
| 2560 | $500 | 89 | $370 |
| 2564 | $540 | 19 | – |
| 2565 | $540 | 26 | – |
| 2566 | $510 | 30 | – |
| 2570 | $550 | 35 | $470 |
| 2573 | $450 | 25 | – |
| 2580 (outside Sydney) | $450 | 37 | – |
| 2620 (outside Sydney) | $560 | 32 | $365 |
| 2640 (outside Sydney) | $430 | 35 | $350 |
| 2641 (outside Sydney) | $418 | 18 | – |
| 2650 (outside Sydney) | $440 | 87 | – |
| 2680 (outside Sydney) | $433 | 24 | – |
| 2747 | $500 | 38 | – |
| 2750 | $520 | 56 | – |
| 2759 | $550 | 18 | – |
| 2760 | $520 | 60 | – |
| 2761 | $540 | 23 | – |
| 2762 | $670 | 24 | $580 |
| 2763 | $570 | 20 | – |
| 2765 | $550 | 50 | $480 |
| 2767 | $550 | 15 | – |
| 2770 | $500 | 52 | – |
| 2780 | $580 | 16 | – |
| 2795 (outside Sydney) | $480 | 44 | – |
| 2800 (outside Sydney) | $500 | 49 | $400 |
| 2830 (outside Sydney) | $448 | 38 | – |
| 2850 (outside Sydney) | $490 | 31 | – |
| 2880 (outside Sydney) | $345 | 27 | – |
WA and the ACT
Western Australia and the ACT do not publish bond medians by area and dwelling type that we could use. For those, our WA and ACT pages show the rent a flat needs to pay back in a given number of years instead.
How we built the table
NSW: we downloaded the raw bond lodgement files for July, August and September 2026 (81,668 bonds), grouped them by postcode ranges and took the median weekly rent for each dwelling type and bedroom count, leaving out groups with fewer than 10 bonds. Tasmania: the same method on 8,219 bonds lodged January–June 2026. Queensland, Victoria and South Australia publish medians themselves; we took one-bedroom flats and two-bedroom houses. Victoria's latest release is for the September quarter 2025, a year older than the rest. South Australia's one-bedroom house median sits at about $290 in every region, which looks like a category of rooms or old cottages, so we did not use it. More in the methodology.
This week's worked example
Week of 19 October 2026. A new example, rule and owner report every Monday.
A 55 m² two-bedroom flat with a standard finish on a block with some slope, services 12 m from the house, in Logan: our model puts it at $198,000 turnkey ($174,000–$222,000), or $3,600 per m². At the area's median 2-bedroom bond rent of $500 a week it would return 10.4% net and pay back in 12.7 years after tax.
Rule check: In Tasmania's January–June 2026 bonds, Greater Hobart detached two-bedroom dwellings rented for a median $520 a week against $500 for two-bedroom flats.
From an owner (NSW, 2018): A tenant whose landlord planned a granny flat in the yard was offered a $10 a week rent reduction during construction, for losing the garage and part of the yard.