Victoria is “among the most serious housing crises it has faced” as Melbourne weekly rents have soared by more than $110 in some areas since interest rates hikes began. SEE THE LIST
In the CBD, typical rents has grown by $112 per week to hit $627.
CHIA Victoria acting chief executive officer Jason Perdriau said a lack of affordable housing was “a primary driver for soaring rents in Victoria”.“Landlords can pass on their financial pain to tenants.”Recent PropTrack figures show Melbourne’s rental vacancy fell to 1.7 per cent in February, its lowest level since late 2018.
Infrastructure Victoria has recommended 60,000 new social housing properties be built across the state in the next decade. Melbourne’s rental vacancy fell to 1.7 per cent in February, its lowest level since late 2018. Photo: NCA NewsWire/Andrew Henshaw.The council has urged the state government to invest $47.5m to prevent the From Homelessness to a Home program from being gutted.
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