Rents in Australia are rising at an alarming rate, pushing many people into financial hardship. In some cases, people are being forced to move out of their homes and into cheaper accommodations, or even onto the streets.
The rental crisis is having a devastating impact on families, with many struggling to keep up with the rising costs. In some cases, parents have to choose between paying the rent and feeding their children.
Some Melbourne renters are reporting rental increases from their landlords of more than 30%, and are now being forced to either pay more or find a new place to live.
Charlie Emery, 24, and three of his mates were told they each needed to pay an extra $50 a week by their landlord and were subsequently kicked out of their inner-city rental.
“We were already paying what I would consider a relatively expensive amount in rent (about $250 each weekly) for a place in Hawthorn,” Mr. Emery said.
“Once our lease ran out our landlord informed us that they wanted to increase the rent by $200 a week total. Between four of us, this equated to an additional $50 a week.”
The four boys have decided to save some money and move back in with their parents until the chaotic rental market calms down.
The housing crisis is also having a flow-on effect to other areas of the economy, with businesses struggling to find workers as they can’t afford to live near their workplaces.
“It is a real problem for us, our staff just can’t afford to live in the area,” one business owner said.
The situation is only going to get worse, with the ABS predicting rents will continue to rise over the next few years.
This is bad news for renters, who are already doing it tough. The high cost of renting is making it difficult for many to save for a house, which is only exacerbating the housing crisis.
