The epicentre of Melbourne’s rental crisis is growing, with the region Daniel Andrews’ electoral office is located being among some of the most painful spots for rental properties. SEE THE LIST
*Pain index based on rental increase over past year, average rent as a percentage of income and vacancy ratesTenants Victoria chief executive Jennifer Beveridge said they were hoping to see “practical measures” to address rental affordability in the state government’s upcoming housing package.
PropTrack economist Paul Ryan said Melbourne’s vacancy rate had plunged from above 5 per cent in 2021 to just 1.24 per cent in March, the lowest the firm have recorded in five years, though it was slowly improving.“We are seeing affordable rentals pretty much evaporating very, very rapidly.
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