Ah renting, it’s exactly like owning a house. Except that you have fewer rights. And after a while, your landlord can demand more money from you while providing the exact same service. And it can be virtually impossible to own a cat or a dog while being trapped in this unending cycle of frustration.
So, in conclusion: My opening statement was incorrect. Renting is a reality that most of us are forced into while owning property is a distant dream. However, we all deserve a great, safe, responsibly priced place to live. It’s important to know what the property market is doing in order to get the best deals in this torture-scape.
So, with all this in mind, where in Australia are the best dealios? Is there anywhere that’s not drowning in unreasonable prices? Well, Domain has dropped its June 2022 Rental Report. We’ve gone through it, and here are the spiciest bits of info:
RIP Cheap Apartments for Rent in Sydney
In June 2021, the median rent price of a Sydney digs was $550 a week. As of June 2022, it’s now a blistering $620. As Domain stated, “Sydney remains a landlords’ market with a record low vacancy rate of 1.4%. This means it is highly competitive for tenants as the availability.” It also means that landlords can basically charge whatever they want.
Canberra’s Rental Market Is Actually the Worst
If you thought Sydney was the worst place to rent, then you’d be wrong. As per Domain, “Continuous growth has maintained Canberra as the most expensive capital city to rent in Australia, a title held by houses for the past four years and units for almost two years.” Currently, the median rent price of a place in Canberra is a yikes $690 per month.
Related: Is Australia Really in a Rental Crisis?
Related: Why Rental Prices In Australia Will Rise in 2022
Brisbane Apartments: Better Than Sydney’s
The median rent price in Brisbane is $520 per week. That’s $100 cheaper than what you could get in Sydney. However, these prices still aren’t great. This is the eighth quarter that they’ve raised and are at record highs. What’s more, the more folks relocate to Brissie, the higher the prices could go.
We Have a Winner, and It’s Melbourne’s Rent Prices
Melbourne’s rental prices are hands down the best you can get in a capital city. The median is $460 per week. While this amount is still unethically exorbitant and is a record high, it’s literally $160 cheaper than Sydney. If you ever wanted another excuse to move to Melbs, then here it is.
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