Nobody ever sat down all of Sydney, and had to tell us that both housing and rental prices were surging through the [increasingly expensive] roof. You live in Sydney. Unsecured car spaces sell for more money than your parents’ house did in the 90’s.
It’s messed.
It’s exorbitant.
You know.
But when the stats officially confirm that the current rental prices we’re seeing in Sydney aren’t just par for inflation’s course, announcing that rental prices have surged 32% in the past five years and are now at an all-time high, you have permission to get a tad emosh: at yourself for not moving to Berlin earlier, and at your roommates for not being your Mum, for then your rent would be free as hell.
You know that bit in Billy Madison, where Adam Sandler grips a kid’s face, urging him to stay in elementary school “For AS LONG AS YOU CAN. For the love of God, cherish it“? ‘Course you do. Apply that line to your days riding rent free under your parents’ roof. And despair.
Domain today reports that the average weekly rent for a room is sitting at $275 in Sydney. Which might sound like a lot – but anyone in Sydney will attest that $275 is pretty much on the “bargain” side of things. On top of that, data released today claims 44 out of 50 of Australia’s most expensive suburbs are in Sydney.
And it’s not like those six other suburbs in the top 50 are closely vying for spots in the top 10. Sydney is outpacing the rest of the nation by leaps and bounds: the six suburbs in the top 50 that aren’t from Sydney only make the LAST fifteen spots – in the top 35 – 50 bracket.
Regrettably, it gets worse. Illegal housing “slums” in Sydney made news this week, as dwellings cramming in residents to make an illegal buck were exposed, with the City of Sydney employing a former Scotland Yard detective to investigate landlords milking tenants for all they’re worth. It goes without saying, though, that no Sherlocks are needed to figure out that treating renters like sardines is both wrong, and illegal AF.
One house in Sydney reportedly contained 58 beds (in a 3 bedroom house), prompting a serious crackdown on the practice in Sydney. And the worse bit – tenants in illegal housing haven’t been paying drastically lower rates for having dozens of roomies. Some, in a two bedroom apartment housing 14 people, allegedly paid up to $150 for the ~privilege~.
Without further ado, according to Domain and flatmates.com.au data, behold Australia’s most expensive ‘burbs for renting.
To put it in context, the top spot, Pyrmont, pits the average weekly cost for a private room at $351.73.
1. Pyrmont
2. Zetland
Via Domain.
