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Rentals Escalating???


nans
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Maybe some of the people already living in Melbourne would be able to confirm this for me....

When I accepted the job offer in Melbourne in April I started looking on domain.com and realestate.com to see what the average rentals around my office (Armadale) and further afield would be. I've never worked on a budget... not that I didn't have to, but simply because I'm REALLY bad at it.....! :whome: So I decided Melbourne is a new beginning and I would do certain things a bit different.

After months of debating I now know how much furntiture and stuff I will be bringing with me at the end of the year and can look at rental properties more realistic. I again did a search on the web and decided to try and stay close to the office to try and save on travel costs. Alternatively I need to look for a property further away at a lower rent but be prepared to spend more on travelling. If I live futher away at least I'll be able to fit all my kitchen stuff into the house!!! :blink:

It seems as if rentals have increased by approximately 10-15% in the last 3 months!! Am I mistaken? Can any of the people in Melbourne tell me whether they have experienced this?

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Hi Nans

Unfortunately yes, rental prices have increased. Due to the increase in mortgage rates, some home owners are finding it hard to keep up their payments and have sold their homes, so now there are many more looking at the rental market. In the outer suburbs you can still find properties at fairly reasonable rents, but I would guess that around Armadale, that would not be the case.

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