So what would be a fair rental increase?

I’m a tenant of 15 months, living in a basic 34m squared, 1 bedroom apartment in Chippendale NSW and paying $420p/w. The apartment has never been renovated and is a little over 20 years old. I rent directly through the owner.

Since living here, I have done most of the maintenance work myself including the replacement of the stove at $700, of which, my landlord is very aware. Much of the repair work I’ve completed is minor eg: repair a leaky cistern, replace a broken cupboard hinge, replace wardrobe door rollers, replace faulty electrical switch, refit the bathroom basin.

My landlord has indicated that due to the 30m squared studio next door, now being advertised for $420 per week, she would like to increase the rent of the apartment I rent from her and has asked for my thoughts on a fair rental increase.

In response, I have advised that I would accept a fair increase if the carpet was replaced. This is something she promises she will look into immediately.

 
My question is: based on all of this, what would be a fair increase in rent to accept? I don’t wish to be dealt an unfair hand.