Inner-city Melbourne rents will exceed pre-pandemic prices before the end of the year, according to one property data provider, bringing the era of pandemic bargain prices to an end. Melbourne CBD MelbourneCBD propertyprices property rent rentals
in early 2021 about securing a new two-bedroom flat in North Melbourne for $350 a week, after working from home in a crowded share house.
“A lot of renters are simply spilling out of the middle ring and detached housing sector into the city,” he said. After record vacancy rates in the CBD in November 2020, when nearly 10,000 rentals were advertised as available, that number has dropped to just under 4000 this month – below the long-term average.
CEO of Tenants Victoria, Jennifer Beveridge, said the legal service had heard multiple accounts of tenants being asked to vacate, as the landlord wanted to list the home on Airbnb. She said the issue should be examined by policy-makers.“I was talking to someone just this week who owns three properties in inner Melbourne, and they decided they could earn double by putting them on Airbnb and having people in them less than half the time,” Ms Beveridge said.
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