New data shows rental prices rose at the fastest quarterly rate on record in September, with no relief in sight for struggling tenants.

Nationally, PropTrack's latest Market Insight shows median weekly advertised rents have increased by 4.3% over the past three months and a staggering 10.3% year-on-year, signalling tough conditions right across the country.

"Rents are rising due to the ongoing low volume of stock available for rent and the strong demand for rental accommodation, which is affording landlords with the scope to do so the ability to increase prices," Cameron Kusher, executive manager of research at PropTrack, said.

While all rental markets are challenged, some cities are much tougher than others for those looking for a home.

Tenants battling with the higher cost of living would also be seeing their weekly rent impacted. Picture: Getty

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In Sydney, there was a 1.9% increase in rental prices quarter-on-quarter, with a median rent of $550 per week for all dwellings. Prices are now 10% higher year-on-year.

By comparison, Brisbane had an increase of 3.2% quarter-on-quarter, with a median rent of $485 per week for all dwellings, but prices have surged by 14.1% year-on-year.

Melbourne saw a 3.5% increase from last quarter, with a median of $440 per week for all dwellings, however, prices were unchanged for houses. Instead, units saw an eye-watering 5% increase over the quarter.

For all dwellings, weekly rents are now 10% higher year-on-year across the Victorian capital.

Brisbane rent increased by 3.2% quarter-on-quarter. Picture: Getty

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Those renting a house in Adelaide have copped the biggest quarterly increase in prices of all the capitals, now paying 4.3% more, or $480 per week. For all dwellings, prices have risen 3.4% quarter-on-quarter and are 12.5% higher year-on-year.

In Darwin and Hobart, rent prices remained unchanged over the past quarter but are 6.4% and 10% higher year-on-year respectively.

In Canberra, rents increased 2.6% quarter-on-quarter and 9.1% year-on-year.

Across the combined capital cities, prices have increased 3.2% quarter-on-quarter and are now 7.8% higher year-on-year.

Meanwhile, rent prices in regional are showing early signs of slowing. This quarter, growth remained unchanged compared to the last, but were still a whopping 12.5% higher year-on-year.

In terms of dwelling price differences, having more space will comes at a premium, with house rents having increased by 11.1% compared to units, up 7.1%.

No easing of rents in sight

There are several factors causing steep rent hikes, including demand for housing that's consistently high – and growing – especially with the return of the international student and increases to migration caps.

Available stock remains low in most areas and these conditions allow landlords to increase their weekly asking rent.

The rapid interest rate hikes could also be seeing some landlords increasing rent to keep up with their mortgage repayments.

"Not only do renters face a shortage of vacant rentals and ongoing rental price pressures, but as interest rates rise, landlords may pass on the increasing cost of their mortgage repayments," PropTrack senior economist Eleanor Creagh said.

Tenants will likely face more rent hikes as the market remains tight. Picture: Getty

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This week, the Reserve Bank of Australia lifted the cash rate by another 25 basis points to 2.6%, which was less than anticipated, but still enough to impact some landlords under mortgage pressure.

Cost of living getting higher

It's not just the weekly rent which tenants will be seeing edging upwards, but the cost of living. Earlier this year, Australia recorded its highest inflation in more than a decade.

Petrol and food are just two of the more obvious signs of prices going up and many tenants are finding themselves in desperate situations.

Waitlists for social and affordable housing are growing. Picture: Getty

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Social and affordable housing waitlists remain worryingly high and are growing.

In Victoria for example, Homes Victoria recorded 36,237 priority applicants for social housing in March this year, and 20,837 applicants who registered interest in social housing.

Many charities are also reporting more people accessing their services for the first time, many of whom are full-time workers who just can't keep up with the the bills.