Sought-after neighbourhoods have become more expensive, but those hoping to escape Sydney and commute may need to rethink.

Rents are soaring in several capital cities as low vacancy rates collide with rising interest rates and population growth.

Sydney rents have jumped again after tenants got a reprieve from hikes earlier in the year. Landlords remain in the driver’s seat.

A lack of available properties has put increasing pressure on Melburnians searching for a home, especially on a budget.

Sought-after neighbourhoods have become more expensive, but those hoping to escape Sydney and commute may need to rethink.

In some parts of Melbourne, households are being asked to fork out for double-digit increases compared with last year.