Sydney rents have risen by as much as 13 % in the last year, with the biggest hike at Edgecliff in the eastern suburbs.

Tenants are now paying about $60 more a week than they were a year ago, latest figures from Run Property show.

The Sydney suburbs of Edgecliff, Randwick, Ryde, Newtown, Surry Hills and Neutral Bay all recorded rent increases of more than 10 per cent for new tenancies in the past year, the report released on Saturday said.

Edgecliff topped the list with a 13.1 per cent rent hike.

In Melbourne, Thornbury, Oakleigh, Fairfield, Carlton North, South Yarra, Kew and East Melbourne recorded rents rise by at least 9% per cent.

Thornbury had the highest increase of 12.2 per cent.

By contrast, Brisbane rents rose by an average of just 3.4 per cent, or $11 a week.

Run Property CEO Rob Farmer said the jump in rents showed there was still value in investment properties. "The smart money is starting to flow back into investment property, especially now that the sales market is off the boil and there are buying opportunities out there," Mr Farmer said in a statement.

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