The Melbourne rental market is currently a nightmare

  • Speaking from my experience as a uni student who’s lived in 3 Melbourne rental properties for the past 2 years, it couldn’t be harder
  • The cost of renting is far too high and finding an available rental property like the hunger games

Here’s a chart of the median rental price per room across the different regions of Melbourne

Let’s highlight and isolate Inner Melbourne as that’s where it’s most practical for uni students and young people such as myself to live

Furthermore, lets observe how to number of rooms available to rent has fallen drastically in the past few years. The fall in rooms and increase in prices may be another classic case of supply and demand, but regardless of the cause, these costs put a strain on renter’s wallets

Looking at the proportional wage growth since 2012 compared to the proportional wage growth. Rent has skyrocketed for pandemic lows and now overtaken wage growth.

It’s clear that now the Melbourne rental market is becoming more out of touch for people as rental prices increase, availabilities decrease, and rent grows faster than our wages.

If unchecked this could have unforeseen/unpredictable results such. A lack of affordable and available accommodation for students in the city may isolate young people from attending university in the first place.