Yeah it is, most rooms are 200+ in the inner suburbs, 3 bedrooms are easily 6-800/wk. I was somewhat depressed by the number of people bombarding me with offers when we had a spare room to fill.
Seeing how the rent is on a weekly basis I think so too.
Seeing as you're from another instance I'm guessing you're not from Australia, and came across this thread on /All?
Weekly rent is, for some weird reason, the norm here. I know most of the world does it monthly, and frankly I think that makes more sense. But it's not how we do things in Aus.