Depressing statistic that will have young Sydneysiders wanting to move to Melbourne
1 year, 2 months ago

Depressing statistic that will have young Sydneysiders wanting to move to Melbourne

Daily Mail  

Rents continued to grow in every capital city in the last months of 2023, but economists say there could be some relief on the horizon. The latest PropTrack Market Insight report found the median national rent has continued on its meteoric rise, increasing 1.8 per cent over the December quarter to $580 per week. This is an 11.5 per cent increase compared to the previous year, which means rents are $60 more expensive a week than they were in early 2023. Prospective renters waiting outside an apartment inspection in Randwick With the second tightest rental vacancy rate behind Adelaide, Perth's median rent is now 66 per cent higher than it was before the COVID-19 pandemic. But Western Australia and Queensland were home to the highest non-metropolitan rents at a median $580 per week - a 16.7 per cent and 11.5 per cent increase on the previous year.

Cent Melbourne Sydney Rents Rent Median Renters Proptrack  sydneysiders  rents  median  markets  continued  rental  rent  melbourne  cent  depressing  2023  young  renters  wanting  statistic  week

History of this topic

Rent costs finally fall outside London but capital hits another record high
1 month, 4 weeks ago

Rent costs finally fall outside London but capital hits another record high

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Average asking rents outside London have fallen for the first …

'Quite flat' Canberra rental market enters slower than usual peak season, which is good news for renters
2 months, 2 weeks ago

'Quite flat' Canberra rental market enters slower than usual peak season, which is good news for renters

ABC  

January and February have typically been the busiest months of the year for finding a rental in Canberra as university students, public servants and defence contractors move in and start looking for a new place to live. Real estate agent Stuart Dovers says the rental market in Canberra has been "soft and steady" in recent times. Growth in rental market …

House prices and rents expected to rise across south-east Queensland in 2025
2 months, 2 weeks ago

House prices and rents expected to rise across south-east Queensland in 2025

ABC  

Vikram Singh moved to Brisbane earlier last year for work and has spent months searching for a home within his family's budget. "In south-east Queensland though conditions are still fairly strong, but they're not as strong as they were in the year to June 2024," Ms Conisbee said. "When you consider all of those factors, it is likely that we …

Tough Christmas for renters
3 months ago

Tough Christmas for renters

ABC  

Rachel Mealey: Good morning welcome to AM. Maiy Azise: We know that there's record amounts of energy debts at the moment so that means that people really are struggling and that's a cost that they're trying to forego. But at the really extreme end, people being forced to move when they don't want to, kids get taken out of schpp; …

Aussie teen rages over Sydney property prices
4 months ago

Aussie teen rages over Sydney property prices

Daily Mail  

House prices rose by 1.3 per cent across capital cities in October A young Australian has slammed the country's housing crisis as 'genuinely ridiculous' after receiving a flyer from a real estate agency that showcased ordinary properties that all sold for more than $1million. Data revealed house prices recorded an increase of 1.4 per cent in Sydney, with homes selling …

Study shows Australian renters willing to pay more to secure indefinite leases
4 months, 2 weeks ago

Study shows Australian renters willing to pay more to secure indefinite leases

ABC  

Chris Little has mastered the art of packing up his life. "Australia really is at a tipping point, transitioning from a home-owning nation to a nation where renting needs to be a lifetime tenure," Professor Baker said. "People would trade off some extra costs for being able to be a bit more secure in their rental," Professor Baker said. Joel …

House prices are still rising, but CoreLogic data shows the property market is cooling off
4 months, 4 weeks ago

House prices are still rising, but CoreLogic data shows the property market is cooling off

ABC  

Australia's property market is showing further signs of a slowdown, with national house prices rising slightly in October as more home-owners and investors look to capitalise on the spring selling season. "For the past couple of years, they've had really strong population growth, strong jobs growth, and subsequently strong housing demand that has kept prices rising, even through interest rate …

Rental advertisement for Sydney unit above childcare taken down after concerns raised about tenant access
6 months, 1 week ago

Rental advertisement for Sydney unit above childcare taken down after concerns raised about tenant access

ABC  

An ad for a three-bedroom unit a short drive from the iconic white sands of Bronte Beach has been pulled after it sparked outrage for its extensive list of conditions for prospective tenants. Labelled "unusual" by the NSW Tenants Union, other rules for the three-bedroom in Queens Park property include a ban on pets, smoking and tenants having guests during …

The video that will make every millennial jealous: Boomers reveal how little they paid for their first home
10 months ago

The video that will make every millennial jealous: Boomers reveal how little they paid for their first home

Daily Mail  

Baby boomers have revealed how much they paid for their first home and warned young Aussies to give up their 'lavish lifestyles' to save for a deposit. First-home buyers continue to struggle to purchase properties in both capital cities and regional areas across Australia Australian big city house prices are tipped to surge by more than a third during the …

CoreLogic reports record-high rents across Australia's biggest regions as WA and Queensland tops list
10 months ago

CoreLogic reports record-high rents across Australia's biggest regions as WA and Queensland tops list

ABC  

The promise of fleeing the high cost of living in Australia's capital cities and finding reprieve in the regions is fast evaporating, with rental prices in nearly every part of the country hitting record highs. Batemans Bay in New South Wales had the biggest increases over the past three months, with rents going up the equivalent of $32 a week, …

Latest figures show huge change to Australia's property market compared with a year ago
10 months ago

Latest figures show huge change to Australia's property market compared with a year ago

Daily Mail  

Homeowners are becoming more confident about putting their properties on the market, with the latest figures showing 40 per cent more homes available than there were 12 months ago. The latest PropTrack listings report revealed the Aussie property market saw the strongest new listings for the month of April since 2021 'If we look in Sydney and Melbourne, the number …

Temporary residents in overcrowded spaces, paying more for less amid Sydney's rental crisis, experts say
10 months, 3 weeks ago

Temporary residents in overcrowded spaces, paying more for less amid Sydney's rental crisis, experts say

ABC  

In short: Temporary students and workers in Sydney are struggling to find affordable accommodation. "The difficulty is to find some people who would like to stay in the same bed, or share a bed with somebody they don't know, so that's a little bit of a problem." Severe overcrowding Mr Vanneste's predicament is an increasingly common one for temporary students …

Australia's median rent surges to record heights with regions and outer suburbs feeling the heat
10 months, 3 weeks ago

Australia's median rent surges to record heights with regions and outer suburbs feeling the heat

ABC  

In short: Rents have reached a record high, with the median weekly rent in Australia now at $627. Perth Median rent $669 Year-on-year increase 13.6 per cent The rental market in Perth saw the highest annual rent increase of all capital cities in the last year, as well as the highest uplifting of rent values since the onset of the …

Evictions surge in Arizona with housing shortage and rising prices
10 months, 3 weeks ago

Evictions surge in Arizona with housing shortage and rising prices

New Indian Express  

PHOENIX: Wearing a bulletproof vest and with a gun strapped to his waist, Constable Lennie McCloskey opens his folder and looks through the court orders: eleven evictions to be carried out today. Simply not being able to afford the rent is one of the main reasons behind the shocking 3,000 evictions that take place in Maricopa County every month -- …

Advertised rents at record highs, but some landlords now being forced to reduce asking prices, Rightmove says
10 months, 4 weeks ago

Advertised rents at record highs, but some landlords now being forced to reduce asking prices, Rightmove says

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. London asking rents were 5.3 per cent higher in the first quarter of 2024 …

Advertised rents ‘hit fresh highs but pace of increases is slowing’
10 months, 4 weeks ago

Advertised rents ‘hit fresh highs but pace of increases is slowing’

The Independent  

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. London asking …

The Aussie city where it now costs more than $1,000 a week to rent a house
11 months, 1 week ago

The Aussie city where it now costs more than $1,000 a week to rent a house

Daily Mail  

A high-income professional earning $180,000 a year would now be in housing stress renting the typical house in Australia's most expensive capital city, new data shows. Sydney's median weekly rent surged by 10.2 per cent in the year to April to $1,053.56, new SQM Research data released on Tuesday revealed. Mount Colah, 38km north of Sydney, has a median weekly …

Rental prices in Australia have soared to a new record high but one capital city is now CHEAPER - so would you move there?
11 months, 2 weeks ago

Rental prices in Australia have soared to a new record high but one capital city is now CHEAPER - so would you move there?

Daily Mail  

With record rental prices across the nation, Canberra has bucked the trend and is actually cheaper. Median rent in the national capital fell 0.7 per cent compared to this time last year, to $685-a-week, according to Domain's latest rent report for March 2024. Domain's chief of economics and research Dr Nicola Powell said the rental drop was caused by an …

Meet the couple who've tried for six months to find somewhere to rent despite having good jobs - here are some tips to beat other prospective tenants
11 months, 2 weeks ago

Meet the couple who've tried for six months to find somewhere to rent despite having good jobs - here are some tips to beat other prospective tenants

Daily Mail  

A young couple with university degrees and steady jobs have revealed how they spent six months looking for somewhere to rent without success, in the latest snapshot of the rental crisis smashing Australia. Talitha Vermeulen, 25, and her 32-year-old boyfriend Trent Sacilotto have spent the past six months trying to find somewhere to rent in Sydney's Sutherland Shire. Talitha Vermeulen, …

Mapped: See how the UK’s record rent rises impact your area
1 year ago

Mapped: See how the UK’s record rent rises impact your area

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. “As the cost of living crisis apparently eases, the cost of renting crisis is …

Rents up 29% since pre-pandemic despite recent slowdown - how fast have they risen in your area?
1 year ago

Rents up 29% since pre-pandemic despite recent slowdown - how fast have they risen in your area?

Daily Mail  

Rents have risen 29 per cent since just before the start of the pandemic, new research has revealed. Zoopla says the sharp rise in rents during the pandemic helped to push more than half of rental homes above £1,000 a month for the first time, almost double the level five years ago. One of the areas with the most rapid …

Proof Australia's rental crisis is getting worse as living costs soar across the country
1 year, 1 month ago

Proof Australia's rental crisis is getting worse as living costs soar across the country

Daily Mail  

Share house living is growing as the rental market remains tight and high living costs prod home owners to rent out their spare rooms. Online share accommodation site Flatmates has recorded an 18.8 per cent increase in new listings since this time last year, but even with that boost, demand for rooms is still dramatically outpacing supply. Demand for rooms …

Average asking rents ‘hit new record high with 11 inquiries typically per home’
1 year, 2 months ago

Average asking rents ‘hit new record high with 11 inquiries typically per home’

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. We can’t keep seeing double-digit rent rises every year …

Rivervale tenant hit with $250-a-week rent rise, as Perth house rents jump for ninth straight quarter
1 year, 2 months ago

Rivervale tenant hit with $250-a-week rent rise, as Perth house rents jump for ninth straight quarter

ABC  

Perth suffered the biggest increase in rental prices in 2023 and has continued its record-long stretch of rising rent, with one tenant being hit with a $250-a-week price hike. Key points: Perth rent prices have increased for the ninth consecutive quarter Some tenants are reporting weekly rent increases of $250 The city's rental vacancy rate has hit 0.4 per cent …

Rental prices rose in most Australian capital cities last year, but Canberra rents stayed flat
1 year, 2 months ago

Rental prices rose in most Australian capital cities last year, but Canberra rents stayed flat

ABC  

The start of a new year in Canberra usually marks the peak of a frenzied rental market, with crowds flooding open homes and would-be tenants offering agents more cash to secure a property. Key points: Real estate agents say it is an unusually quiet January in the ACT, with open homes for rentals failing to draw crowds Rent prices in …

No-nonsense 'boomer' slams tenants complaining about rent hikes and offers some very simple solutions - but not everyone is on his side
1 year, 2 months ago

No-nonsense 'boomer' slams tenants complaining about rent hikes and offers some very simple solutions - but not everyone is on his side

Daily Mail  

A no-nonsense 'boomer' is being slammed after he suggested Aussie tenants need to 'make a few sacrifices' instead of complaining about the cost of rent. Malcolm told ABC radio Melbourne's Drive host Dr Bridie O'Donnell that tenants should make lifestyle sacrifices instead of complaining 'all the time' about rent. The homeowner, named Malcolm, suggested renters stop eating out, buying takeaway, …

Rent increases highest in a decade with London hit the worst
1 year, 3 months ago

Rent increases highest in a decade with London hit the worst

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Estate agents Hamptons said the cost of rent on new tenancies rose 10.2 per …

Is the record level of migration fuelling inflation and the rental crisis?
1 year, 4 months ago

Is the record level of migration fuelling inflation and the rental crisis?

ABC  

Rye Yang came to Australia in search of a new life, but they didn't have the best start. Key points: An influx of migrants is driving up rental demand in major cities Rising rents are one of the key contributors to inflation The RBA thinks high rent inflation will remain "elevated for some time" “I have never in my life …

How much are short-term rentals really impacting Australia's housing crisis and what are the proposed solutions?
1 year, 6 months ago

How much are short-term rentals really impacting Australia's housing crisis and what are the proposed solutions?

ABC  

The rise of short-term holiday rentals like Airbnb and Stayz have changed the way we travel, but they're also blamed for driving up rents and exacerbating housing shortages in cities around the world. "The research evidence shows too, that when you take short-term rentals out of the market and return them back to the long-term rental supply, that rents also …

The charts that show how Australia’s rental market got so broken
1 year, 7 months ago

The charts that show how Australia’s rental market got so broken

ABC  

Sometimes, being a renter in Australia just plain sucks. CoreLogic's head of residential research Eliza Owen says in this "landlord's market", requests for homelessness services have been increasing every year since 2012. "Lower income households are more likely to be in the private rental market they're seeing much higher levels of incomes required to service rents," Owen says. "In the …

Rental vacancy rates falling nationally and tipped to remain at 'extremely low levels'
1 year, 7 months ago

Rental vacancy rates falling nationally and tipped to remain at 'extremely low levels'

ABC  

As Australia grapples with a housing crisis, the latest data shows it's worsening. Key points: Rental vacancy rates decreased slightly in July to 1.43pc, according to a new report Falling rental vacancy rates point to higher rents in the near term Economists suggest making better use of the existing supply to address the housing crisis The vacancy rate is the …

Median rents for new tenancies in Brisbane jumps 17.4 per cent in 12 months
1 year, 7 months ago

Median rents for new tenancies in Brisbane jumps 17.4 per cent in 12 months

ABC  

The median rent in Brisbane for new tenancies has climbed more than 17 per cent in the past 12 months, making it the biggest jump in a single financial year in a decade. Key points: The median rent for new tenancies in the June quarter in Queensland reached $510 per week The weekly median rent in Brisbane for new tenancies …

Rent prices hit new record as tenants facing ‘crisis like never before’
1 year, 8 months ago

Rent prices hit new record as tenants facing ‘crisis like never before’

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy A charity has said that renters are “facing a crisis …

Capital city housing values are still rising but at a slower pace. Here's how things are looking where you are
1 year, 8 months ago

Capital city housing values are still rising but at a slower pace. Here's how things are looking where you are

ABC  

Australia's housing values increased in June, but the pace of growth has slowed. “Through June, the flow of new capital city listings was nearly -10 per cent below the previous five-year average and total inventory levels are more than a quarter below average." "Simultaneously, our June quarter estimate of capital city sales has increased to be 2.1 per cent above …

High rental growth likely to ease from 2024 as RBA reaches end of interest rate hikes
1 year, 8 months ago

High rental growth likely to ease from 2024 as RBA reaches end of interest rate hikes

ABC  

High rental growth is likely to ease from next year as the Reserve Bank of Australia signals it is near the end of its current interest rate hiking cycle and inflation begins to moderate. Key points: CoreLogic analysis expects rental growth will begin to ease from 2024 as the RBA nears the end of its current monetary tightening cycle It …

National rental prices rise by 2.5 per cent as market battles high migration-led demand and housing supply shortages
1 year, 8 months ago

National rental prices rise by 2.5 per cent as market battles high migration-led demand and housing supply shortages

ABC  

National rent prices have risen by 2.5 per cent in the three months to June, as the rental market battles rising demand driven by overseas migration, a chronic shortage of available properties, and tight vacancy rates. Key points: CoreLogic data shows rental prices remain above average levels but rental growth is moderating Stronger than expected demand from migration and a …

Renters and landlords reveal what they think of Western Australia's rental law shake-up
1 year, 10 months ago

Renters and landlords reveal what they think of Western Australia's rental law shake-up

ABC  

The relationship between WA renters and landlords is set for its biggest shake-up in years, and not everyone is fully onboard. Key points: Low vacancy rates are continuing to drive up the price of renting The government hopes reform will help renters, but not deter investors But both renters and landlords say high costs remain the big issue Under reforms …

Councils called to push landlords to make vacant or holiday homes available for renters
1 year, 10 months ago

Councils called to push landlords to make vacant or holiday homes available for renters

ABC  

Councils across Australia have been called on to ask landlords to make more properties available to renters. Key points: The Real Estate Institute of Australia wants councils to appeal to ratepayers to put holiday homes up for rent Chief executive Anna Neelagama says the solution lies in better use of the homes already built, and to build more houses Independent …

Rent freezes off the table in NSW as new government focuses on bonds and bidding
1 year, 10 months ago

Rent freezes off the table in NSW as new government focuses on bonds and bidding

ABC  

Rent reforms designed to even the playing field for tenants will be introduced in the New South Wales parliament this week, but there will be no relief for those facing soaring rents. Key points: The median weekly rent in Sydney is $711, up 13 per cent from last year In regional NSW rents have climbed to $550 The Greens will …

More Australians forced out of homes as rental housing affordability crisis rages on, Anglicare report shows
1 year, 11 months ago

More Australians forced out of homes as rental housing affordability crisis rages on, Anglicare report shows

ABC  

At the age of 58, Dawn Dowling never thought she'd be stuck packing her belongings into storage and moving in with a friend. Key points: Anglicare's annual rental affordability snapshot was published on Thursday It examined how many properties were affordable for 14 different types of households There are calls for the government to use legislation to ease the crisis …

Two-thirds of young Aussies have given up on ever owning a home, shock statistics reveal
1 year, 11 months ago

Two-thirds of young Aussies have given up on ever owning a home, shock statistics reveal

Daily Mail  

A worrying number of young Australians have given up on ever owning their home, a new survey has found. A Resolve Political Monitor poll published on Monday showed 54 per cent of respondents on middle incomes and 63 per cent in the low income bracket think they will never be able to afford their own home. Sydney's median house prices …

Dilapidated Sydney house in Greenacre offers free rent in exchange for full renovation
1 year, 11 months ago

Dilapidated Sydney house in Greenacre offers free rent in exchange for full renovation

ABC  

An uninhabitable Sydney home being offered rent free for a year has been criticised by the NSW premier but the agent listing the property says demand has been through the roof. Key points: The rental listing was taken down by the agent who said he was overwhelmed with demand The CEO of the Tenants Union says the agent could potentially …

Rents are at a record high across Australia, according to a new report
1 year, 11 months ago

Rents are at a record high across Australia, according to a new report

ABC  

New data points to an alarming escalation in the cost of keeping a roof over your head, especially for renters. "The country is experiencing the longest stretch of continuous rental price growth on record as house rents rise for the eighth consecutive quarter and unit rents for the seventh," real estate website Domain said in its quarterly rent report. "For …

House prices rise for the first time in 11 months in March, while chronic rental shortage continues
1 year, 11 months ago

House prices rise for the first time in 11 months in March, while chronic rental shortage continues

ABC  

Property prices have gone up nationally for first time in 11 months, despite rising interest rates. Key points: CoreLogic's national property price index rose for the first time since April 2022 Sydney led the monthly gains, while Hobart's home prices continued to drop sharply A federal report is predicting a shortfall of more than 100,000 homes within the next five …

Rental hikes limited to once a year to head off housing crisis, Queensland Premier announces
2 years ago

Rental hikes limited to once a year to head off housing crisis, Queensland Premier announces

ABC  

Rent hikes will be limited to once a year rather than every six months, Queensland Premier Annastacia Palaszczuk told parliament today ahead of a housing crisis round table. Key points: Queensland's premier says rent hikes will be capped to one a year Tenants Queensland also wants a cap on the amount rent can be increased The state's homelessness has risen …

Australia's rental vacancy rate at lowest level since before COVID-19 pandemic
2 years ago

Australia's rental vacancy rate at lowest level since before COVID-19 pandemic

ABC  

The percentage of rental properties available in Australia is at its lowest level since before the start of the COVID-19 pandemic, with data showing the rental market has tightened significantly in capital cities and regional parts of the country. Key points: Australia's rental vacancy rate has decreased by 0.1 percentage points to 1.47 per cent in February, the lowest rate …

The cost-of-living crisis has roots in property but whether you rent or pay a mortgage, there's a dark tunnel ahead
2 years ago

The cost-of-living crisis has roots in property but whether you rent or pay a mortgage, there's a dark tunnel ahead

ABC  

If you're a regular consumer of media, you'll likely often be warned of an impending crisis somewhere. Moody's Investors Service stated the obvious this week in a research note: "In February, new home loan borrowers needed an average 30.9 per cent of monthly income to meet monthly mortgage repayments, up from 26.4 per cent in May 2022", when interest rates …

Higher interest rates aren't just affecting home owners — fewer cheap rentals are available
2 years ago

Higher interest rates aren't just affecting home owners — fewer cheap rentals are available

ABC  

We've officially hit double digits on interest rate rises, with the Reserve Bank lifting rates for the 10th time. Rentals below $400 cut in half The report revealed the share of total properties listed for rent on realestate.com.au in February for less than $400 per week fell to 17.6 per cent. "In rough terms, if 50 per cent of people …

As the rental market tightens, young people are facing greater barriers to find share housing
2 years ago

As the rental market tightens, young people are facing greater barriers to find share housing

ABC  

Aretha was excited to move into their first share house in Melbourne's north-east in January this year. Key points: More Australians in their early 20s are living with their parents Rental vacancy rates around the country remained extremely low in February Melbourne's rental market is now tighter than Sydney's The 22-year-old university student was looking forward to living with friends, …

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