Melbourne's rental squeeze is worsening as new figures show listings are plummeting — with almost 32 per cent less properties available compared to last year
The Chelsea townhouse comes with three bedrooms, two bathrooms and two car spaces.
“The more recent impact on this is that overseas migration into Australia has ramped up really quickly.” After enduring a four-month search for a home and finally finding an apartment in Southbank in 2022, Sahil Yadav, 36, and his partner have accepted a whopping 22 per cent increase to their monthly rent from August out of fear of facing another lengthy search for a home.
“Unfortunately, our hopes of negotiating the increase were swiftly dashed when the agent pointed out similar listings with even higher rents. “Faced with limited alternatives and fearing a protracted search for a new place, we reluctantly made the difficult decision to accept the substantial rent hike,” Mr Yadav said.
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