Rents have stopped rising in some markets despite a shortage of available homes – a surprising shift that could affect investors and first home buyers.

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Domain's latest rental figures suggest affordability pressures may finally be putting the brakes on rent increases.

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Across the combined capital cities, the latest figures show:

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- House rents rose 7.7% over the year to September but 0.0% over the quarter.

- Unit rents rose 6.2% in annual terms and 1.5% in quarterly terms.

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One possible explanation is that renters are reaching their affordability limits after years of sharp increases.

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For investors, low vacancies remain encouraging, as they suggest continued demand for rental accommodation. However, conservative rental forecasts and careful cash-flow planning are becoming more important.

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For first home buyers, slower rent growth could provide some breathing room to build a deposit, although rents remain high.

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Thinking about buying your first home or an investment property? Let's work through the numbers to see what you could comfortably afford.

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