Melbourne tops most capitals on home-rental affordability
- Thread starter eeew
- Start date
Surprised there hasn't been more commentary on this. I guess SS is not full of Melbourne renters.
I have found with my tenants, rent to income ratio is lower than mortgage payment to income based on 80% lend on the estimated value of the property. So whether that is, prices are too high or rents too low, I suspect we all have our own opinion.
But the one takeaway for me on my very small sample, is that rental increases would not be restricted on pure rental affordability issues. Maybe these stats also back up more broadly my experience.
And given the nashing of teeth around home price affordability, why wouldn't those individuals who feel like they have been out-priced from their desired standard or located property, then simply rent, and invest their money elsewhere e.g gold, shares, property
I have found with my tenants, rent to income ratio is lower than mortgage payment to income based on 80% lend on the estimated value of the property. So whether that is, prices are too high or rents too low, I suspect we all have our own opinion.
But the one takeaway for me on my very small sample, is that rental increases would not be restricted on pure rental affordability issues. Maybe these stats also back up more broadly my experience.
And given the nashing of teeth around home price affordability, why wouldn't those individuals who feel like they have been out-priced from their desired standard or located property, then simply rent, and invest their money elsewhere e.g gold, shares, property
Buzz
I'm suspecting that rents are too low but how much they'll increase will depend on the rental shortage (if that is a problem in Melbourne)
i rent in melbourne, i couldn't justify the cost of buying vs renting. The money i dont spend renting i invest.
Seriously i have rented 2 places now, one was a 5 bedroom, 4 living, 3 bathroom place in surrey hills which we paid 750 per week for, the other is a 2 bed, 1 bath, 2 car space in southbank (with no doubt monster body corps) which is 550 per week.
Seriously i have rented 2 places now, one was a 5 bedroom, 4 living, 3 bathroom place in surrey hills which we paid 750 per week for, the other is a 2 bed, 1 bath, 2 car space in southbank (with no doubt monster body corps) which is 550 per week.
