Unit rents in the Melbourne CBD have spiked by 33.3 per cent in a year as landlords claw back pandemic discounts and price out some tenants.
Some tenants have received large rent increases and are forced to move elsewhere.Property listings
Although Melbourne CBD unit rents are still 4 per cent below their levels five years ago, the pace of the rebound as Melbourne reopened has been a shock. “Now we have a space where we can set it up how we want … but we’ve just had a reminder that ‘no, this isn’t yours, it’s not your home and it can be taken away on a whim’.”“We’re still tracking slightly behind the pre-COVID numbers, which were at an all-time high. I think it’ll be in March when we catch up.
“Whilst it looks like rents are flying up at a rapid rate, they’re recovering,” she said. “They haven’t gone above where their peak was previously.Rents for houses were up too, but did not show a uniform trend. The biggest rise was in Blairgowrie on the Mornington Peninsula, up 20.8 per cent to an asking rent of $640 per week.
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