Melbourne unit rents hit record $600 a week
Melbourne unit rents hit a record $600 per week in September, up $25 year-on-year, with vacancy at just 1.4 per cent.
Melbourne's rental market has tightened further, with units reaching an all-time high of $600 per week in the September quarter. Houses also rent for $600 per week after a $20 yearly increase.
The vacancy rate sits at a constrained 1.4 per cent, leaving tenants with little choice and intense competition. A shortage of available properties is driving the pressure, even as rents held steady over the past three months.
In inner-east suburbs, unit rents jumped 3.3 per cent to $620 a week. Experts say the market remains firmly in landlords' favour, making it harder for renters to push for repairs or negotiate terms.
- $600 per week
- Unit rent record
- $25 per week
- Annual rise
- 1.4 per cent
- Vacancy rate
- $620 per week
- Inner east unit rent
Why it mattersSoaring rents are pushing renters out of reach of homes and making it nearly impossible to save for a deposit to buy one day.
AustraliaMelbourne renters face record costs and fierce competition for scarce properties, forcing many to live further out or consider roommates to afford a home.
✓ Claims checked against the source. checked 3 h ago
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