The Melbourne Rental Market is Insane

February 2, 2008 — 16 Comments

I’m currently in Melbourne looking for somewhere to live. We’d have hoped to buy but there’s been 2 people through the Australind abode since it was listed, the property market is rooted in WA at the moment. The plan is to keep the house on the market another month, and if it doesn’t sell we’ll rent it out for 6-12 months until the market picks back up.

That means having to rent in Melbourne instead of buying. There’s no polite way of describing the rental market here: it’s fucking insane.

We rocked up to a 3×1 in Richmond that had a $500-550 list price (something around that mark anyway), the online listing looked great and it said spacious. It was so small I wouldn’t let dog live in it. One of the rooms was so small I wouldn’t have been able to stretch my arms out wide without hitting a wall.

And the really not so fun part: there would have been 50, perhaps more people waiting there to inspect the property. Mostly early 20 something girls oddly enough as well.

We cruised past a few other houses in Richmond, Prahran and South Yarra and have now decided that as much as we want to live close to the city, the rental side is just too insane (the buying isn’t great either, but I can live with that side more). Heading out a bit to the burbs in Balwyn, Balwyn North and Surrey Hills, where you get a lot more house for your money rent wise. Hoping to go through a few homes Monday before I fly back to WA Wednesday (first day back at school Tuesday for the boy) and with any luck I’ll sign up for one, get it, and be moved by the end of the month.

Today I remembered why I like the odd drink…and don’t get me started on the traffic 🙂