Comments on: The Melbourne Rental Market is Insane http://www.duncanriley.com/2008/02/02/the-melbourne-rental-market-is-insane/ blogging is not a spectator sport Fri, 30 Jul 2010 03:07:12 +0000 hourly 1 http://wordpress.org/?v=3.0 By: MD http://www.duncanriley.com/2008/02/02/the-melbourne-rental-market-is-insane/comment-page-1/#comment-338443 MD Thu, 05 Mar 2009 03:17:41 +0000 http://www.duncanriley.com/2008/02/02/the-melbourne-rental-market-is-insane/#comment-338443 1 word. Migrants. If you were a landlord who could rent out your broken down, dilapidated property out for $200 a room EACH person (meaning 2 to a room) to eager, awaiting international students and migrants from poor countries dying to save a buck whereas no Aussie would even touch that piece of crap with a long stick - you got a problem. It means landlords now can raise the rent to hellish heights knowing its not worth even 1/4 the weekly price. <br>Its an epidemic and I kid you not.<br>Last property I visited $280 pw for a 1 bedder had 40 people - all Indians, Filipinos and Vietnamese all jostling to visit it. <br>The agent said he wasn't accepting any applications but they were all bent over any surface filling out those apps in some dim, distant hope its first come first serve. 1 word. Migrants. If you were a landlord who could rent out your broken down, dilapidated property out for $200 a room EACH person (meaning 2 to a room) to eager, awaiting international students and migrants from poor countries dying to save a buck whereas no Aussie would even touch that piece of crap with a long stick – you got a problem. It means landlords now can raise the rent to hellish heights knowing its not worth even 1/4 the weekly price.
Its an epidemic and I kid you not.
Last property I visited $280 pw for a 1 bedder had 40 people – all Indians, Filipinos and Vietnamese all jostling to visit it.
The agent said he wasn't accepting any applications but they were all bent over any surface filling out those apps in some dim, distant hope its first come first serve.

]]> By: MD http://www.duncanriley.com/2008/02/02/the-melbourne-rental-market-is-insane/comment-page-1/#comment-338020 MD Wed, 04 Mar 2009 21:17:41 +0000 http://www.duncanriley.com/2008/02/02/the-melbourne-rental-market-is-insane/#comment-338020 1 word. Migrants. If you were a landlord who could rent out your broken down, dilapidated property out for $200 a room EACH person (meaning 2 to a room) to eager, awaiting international students and migrants from poor countries dying to save a buck whereas no Aussie would even touch that piece of crap with a long stick - you got a problem. It means landlords now can raise the rent to hellish heights knowing its not worth even 1/4 the weekly price. <br>Its an epidemic and I kid you not.<br>Last property I visited $280 pw for a 1 bedder had 40 people - all Indians, Filipinos and Vietnamese all jostling to visit it. <br>The agent said he wasn't accepting any applications but they were all bent over any surface filling out those apps in some dim, distant hope its first come first serve. 1 word. Migrants. If you were a landlord who could rent out your broken down, dilapidated property out for $200 a room EACH person (meaning 2 to a room) to eager, awaiting international students and migrants from poor countries dying to save a buck whereas no Aussie would even touch that piece of crap with a long stick – you got a problem. It means landlords now can raise the rent to hellish heights knowing its not worth even 1/4 the weekly price.
Its an epidemic and I kid you not.
Last property I visited $280 pw for a 1 bedder had 40 people – all Indians, Filipinos and Vietnamese all jostling to visit it.
The agent said he wasn't accepting any applications but they were all bent over any surface filling out those apps in some dim, distant hope its first come first serve.

]]> By: MD http://www.duncanriley.com/2008/02/02/the-melbourne-rental-market-is-insane/comment-page-1/#comment-319654 MD Wed, 04 Mar 2009 19:17:41 +0000 http://www.duncanriley.com/2008/02/02/the-melbourne-rental-market-is-insane/#comment-319654 1 word. Migrants. If you were a landlord who could rent out your broken down, dilapidated property out for $200 a room EACH person (meaning 2 to a room) to eager, awaiting international students and migrants from poor countries dying to save a buck whereas no Aussie would even touch that piece of crap with a long stick - you got a problem. It means landlords now can raise the rent to hellish heights knowing its not worth even 1/4 the weekly price. <br>Its an epidemic and I kid you not.<br>Last property I visited $280 pw for a 1 bedder had 40 people - all Indians, Filipinos and Vietnamese all jostling to visit it. <br>The agent said he wasn't accepting any applications but they were all bent over any surface filling out those apps in some dim, distant hope its first come first serve. 1 word. Migrants. If you were a landlord who could rent out your broken down, dilapidated property out for $200 a room EACH person (meaning 2 to a room) to eager, awaiting international students and migrants from poor countries dying to save a buck whereas no Aussie would even touch that piece of crap with a long stick – you got a problem. It means landlords now can raise the rent to hellish heights knowing its not worth even 1/4 the weekly price.
Its an epidemic and I kid you not.
Last property I visited $280 pw for a 1 bedder had 40 people – all Indians, Filipinos and Vietnamese all jostling to visit it.
The agent said he wasn't accepting any applications but they were all bent over any surface filling out those apps in some dim, distant hope its first come first serve.

]]> By: Phillip Molly Malone http://www.duncanriley.com/2008/02/02/the-melbourne-rental-market-is-insane/comment-page-1/#comment-227924 Phillip Molly Malone Tue, 05 Feb 2008 08:54:57 +0000 http://www.duncanriley.com/2008/02/02/the-melbourne-rental-market-is-insane/#comment-227924 Hey Ducan, I believe there will be a property in <a href="http://gdayworld.thepodcastnetwork.com/2008/02/05/moving-to-brisbane/">Yarraville</a> that will be available in the next month or so! ;-) Molly Hey Ducan,
I believe there will be a property in Yarraville that will be available in the next month or so!
;-)
Molly

]]> By: duncan http://www.duncanriley.com/2008/02/02/the-melbourne-rental-market-is-insane/comment-page-1/#comment-227226 duncan Mon, 04 Feb 2008 04:39:42 +0000 http://www.duncanriley.com/2008/02/02/the-melbourne-rental-market-is-insane/#comment-227226 Martin Hawthorn is too expensive, both to rent and buy, but it's where the boys school is so we have to be within reasonable distance. Going to look at a place supposedly in Camberwell tomorrow (it's really in Burwood, but the Eastern part), and there's a couple of options in Balwyn around the $500 mark...but the problem is nearly always the lack of closeness to transport (with North Balwyn), and she who must be obeyed has to get to the city every day. At least the Cambwell/ Burwood place is on transport...literally, it's on Toorak Road :-) Martin
Hawthorn is too expensive, both to rent and buy, but it’s where the boys school is so we have to be within reasonable distance. Going to look at a place supposedly in Camberwell tomorrow (it’s really in Burwood, but the Eastern part), and there’s a couple of options in Balwyn around the $500 mark…but the problem is nearly always the lack of closeness to transport (with North Balwyn), and she who must be obeyed has to get to the city every day. At least the Cambwell/ Burwood place is on transport…literally, it’s on Toorak Road :-)

]]> By: Martin Neumann http://www.duncanriley.com/2008/02/02/the-melbourne-rental-market-is-insane/comment-page-1/#comment-227221 Martin Neumann Mon, 04 Feb 2008 04:28:03 +0000 http://www.duncanriley.com/2008/02/02/the-melbourne-rental-market-is-insane/#comment-227221 Duncan - those areas you're looking at. Yep, anywhere that close to the City is going to be high. Have you thought about a little (not much though) further out? Malvern, Hawthorn, Caulfield? Still pricey, imho. Other than that Elwood, Elsternwick is not bad. The West. Based on your initial areas of interest I don't think so, other than maybe Kensington and Williamstown. Good luck with your search - the demand is so far ahead of the supply it's not funny - I call it a bubble, though the Real Estate agents will spin you anything - in other words: take what any R/E agent tells you with a grain of salt ... can you tell I think very little of them ;-) Duncan – those areas you’re looking at. Yep, anywhere that close to the City is going to be high.

Have you thought about a little (not much though) further out? Malvern, Hawthorn, Caulfield? Still pricey, imho. Other than that Elwood, Elsternwick is not bad.

The West. Based on your initial areas of interest I don’t think so, other than maybe Kensington and Williamstown.

Good luck with your search – the demand is so far ahead of the supply it’s not funny – I call it a bubble, though the Real Estate agents will spin you anything – in other words: take what any R/E agent tells you with a grain of salt … can you tell I think very little of them ;-)

]]> By: Mike http://www.duncanriley.com/2008/02/02/the-melbourne-rental-market-is-insane/comment-page-1/#comment-227152 Mike Mon, 04 Feb 2008 00:31:35 +0000 http://www.duncanriley.com/2008/02/02/the-melbourne-rental-market-is-insane/#comment-227152 I have an apartment in Hawthorn and it has not a single day of vacancy in four years and I have managed to increase the rent slowly over the period. I would suggest looking to the north of Melbourne or the west a little. Balwyn/Surrey Hills is still going to be expensive but are nicer areas and better schools. I have an apartment in Hawthorn and it has not a single day of vacancy in four years and I have managed to increase the rent slowly over the period. I would suggest looking to the north of Melbourne or the west a little. Balwyn/Surrey Hills is still going to be expensive but are nicer areas and better schools.

]]> By: MattyT http://www.duncanriley.com/2008/02/02/the-melbourne-rental-market-is-insane/comment-page-1/#comment-226872 MattyT Sun, 03 Feb 2008 11:14:04 +0000 http://www.duncanriley.com/2008/02/02/the-melbourne-rental-market-is-insane/#comment-226872 Interesting! Given the cost of houses in Melbourne I was always under the impression that rent is low here. Certainly, as a buyer renting out a property, your return on investment is pretty damn low. But Melbourne is a wonderful city to live in! Interesting! Given the cost of houses in Melbourne I was always under the impression that rent is low here. Certainly, as a buyer renting out a property, your return on investment is pretty damn low.

But Melbourne is a wonderful city to live in!

]]> By: Leslie http://www.duncanriley.com/2008/02/02/the-melbourne-rental-market-is-insane/comment-page-1/#comment-226730 Leslie Sun, 03 Feb 2008 06:17:27 +0000 http://www.duncanriley.com/2008/02/02/the-melbourne-rental-market-is-insane/#comment-226730 It took us a month and four syd-melb return flights to find our place in Brunswick. It was un-fun. It took us a month and four syd-melb return flights to find our place in Brunswick. It was un-fun.

]]> By: Billy http://www.duncanriley.com/2008/02/02/the-melbourne-rental-market-is-insane/comment-page-1/#comment-226694 Billy Sun, 03 Feb 2008 04:30:28 +0000 http://www.duncanriley.com/2008/02/02/the-melbourne-rental-market-is-insane/#comment-226694 I've been to Melbourne a few times. I love the city. I lived in Maroochydore for six months. I’ve been to Melbourne a few times. I love the city. I lived in Maroochydore for six months.

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