Sydney man’s shock at rent rise: ‘These are Bondi prices’

A Sydney renter was left shocked at his proposed rent increase. He’s called out the city’s “joke” of a housing market.

A Sydney renter has been left stunned after his rent jumped, calling out the city’s “joke” of a housing market.

British influencer Olan, who goes by the handle olantekkers, lives in Ryde - 13km north-west of the centre city.

He was shocked when his lease renewal agreement came back to show his rent at $730 per week.

“What a start to my weekend, Sydney what’s going on man?” he asked in a video.

“I don’t even live in the city, I live in f--king Ryde.

“These are Bondi prices you know, these are Darlinghurst prices that I’m seeing now per week.

“I might just have to move to Perth because this is a joke.”

Leo Patterson Ross from the Tenants Union of NSW blamed rent rises on the city’s competitive market and increasingly desperate renters. Picture: NCA NewsWire / Jeremy Piper

According to figures from realestate.com.au, the northwest Sydney suburb has an average rental price of $500 for units and $730 for houses.

Rental prices for homes have risen an average of 7.7 per cent in the past 12 months, while units have risen by 11.1 per cent.

@olantekkers

What a start to the weekend 😭💀. Rent has gone up

♬ original sound - Olantekkers

Commenters on the video were divided, with some expressing shock at the price and others saying they were facing the same.

“Bro Ryde’s expensive $750/week for 2 bedroom is a steal,” one person commented.

Another said: “Mine went up $80p/w 6 months ago and I just got a notice it‘s going up $300 p/w so I’ll be paying the same.”

“Sydney house rates are ridiculous now,” a third said.

“No wonder people are moving to Melbourne and Queensland.”

Sydneysiders are increasingly taking to social media to vent frustrations about the rising cost of living, with videos on the subject attracting hundreds of thousands of views.

Leo Patterson Ross from the Tenants Union of NSW blamed rent rises on the city’s competitive market and increasingly desperate renters.

“We have an essential service that’s been run as a competitive process and people are being pressured into paying more and more and sacrificing quality, location and size,” he told The Daily Telegraph.

A recent UNSW study found young people and renters were experiencing the worst of cost of living and inflation rises.

UNSW City Futures Research Centre deputy director Hazel Easthorpe said this was because renting was much more insecure than homeownership.

“It’s a particularly insecure tenure in Australia, more so than in many other countries, because of our limited protections for renters, including allowing no grounds terminations and unlimited rent increases,” Professor Easthorpe said.

“Life events that impact housing stress can occur more rapidly for younger people who have not had a chance to build up the safety net to fall back on, such as savings from their career or support systems.

“But the impact of housing stress can be extreme, no matter the age.”