Six capital city rentals under $350 a week
Times are tough, but these listings prove it’s still possible to find rentals under $350 a week in major capitals – affordable for most workers.
Times are tough, but these listings prove it’s still possible to unearth rentals under $350 a week in major capitals – an affordable situation for entry level city workers.
But it is one of the hottest segments of the rental market in terms of demand because of its affordability, according to Anne Crarey, executive GM of one of the country’s most prolific independent agencies Little Real Estate.
“I have never seen the rental situation in Australia as challenging as it is today”.
“Rental properties under $350pw in the major cities are increasingly rare and highly sought after”.
“Value does exist,” she said, “but these affordable properties are in high demand and tend to be advertised for a limited time”.
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“These properties will undoubtedly be hotly contested, but tenants who act quickly and ensure their application forms are completed correctly can successfully secure a property and stand out from the competition.”
BRISBANE
PropTrack’s latest Market Insight report showed an exceptionally tight vacancy rate in Brisbane of 1.2 per cent in June – still the worst level of the three major capitals. But it is a slightly better situation than Brisbane had the same time last year, up 0.17ppt. Only Adelaide (1.13 per cent) and Darwin (1.15 per cent) have tighter vacancy rates.
Right now there are two properties listed at $300 a week both in rooming accommodation.
The last of three studio bedrooms at 8B Nicholson Ave, Salisbury, is listed at bond of $1,200, close to Griffith University including all bills.
NGU Real Estate Toowong has that listing, describing it as “fully furnished and well equipped” and ready to move into now. The accommodation format means common areas like living and kitchen space are shared with two other male tenants. Each bedroom has its own private bathroom, large wall mounted flat screen TV, WI-FI and an undercover parking space.
Also $300 a week is a bedroom in shared accommodation at 593 Sandgate Road, Clayfield within 6km of the Brisbane CBD which also has its own common laundry.
Tristan Woollett of Elevate Estate Agents has it listed as “comfortable and convenient living space that is perfect for students and young professionals”.
“We have one unfurnished room available that is inclusive of bills, including electricity, internet, and water,” was how he described the set-up. “The room shares a bathroom with three other occupants.”
SYDNEY
In Sydney where the vacancy rate hit 1.68 per cent in June – after rising 0.2 percentage points over the previous month, there are surprisingly still options listed under $350.
A studio at 8/667 South Dowling Street, Surry Hills, is priced at $320 a week with bond set at $640 – close to the city centre.
Daniel Daher, property management associate at True Property Leichhardt listed the fully renovated and furnished room as “sensationally presented within a smartly refurbished building”.
He said the open plan room had a built-in robe with all utilities including internet covered. The shared facilities were for the kitchen and bathroom, plus there was a coin-operated laundry available.
Just 10 minutes walk from the CBD was a studio apartment at 10 Flinders Street, Darlinghurst, priced at $350 a week.
It was listed for rent by Anthony D’Ettorre and Antony Cazzato of D’Ettorre Real Estate.
They see the fully furnished studio as “ideal for young professionals and students alike”, just metres from bustling Oxford Street.
Bathrooms are communal and a two week security deposit is required.
MELBOURNE
The vacancy rate in Melbourne was better than Brisbane but tighter than Sydney in June at 1.5 per cent, but it delivered one of the cheapest city rental options currently listed.
A studio apartment at 109/44 Barkly Street, St Kilda, south of the CBD, is priced at just $295 per week, with bond set at $1,281.
Richard Beck of Beck & Small Property Brighton described it as “sensational” given it was in one of the city’s most sought-after areas – “a short stroll to trams, beaches and Melbourne’s iconic Albert Park Lake”.
For that you get a kitchen alcove with storage, a lounge/bedroom with a large wardrobe and an ensuite-style bathroom. Shared areas include a communal decked courtyard and laundry facilities.
For $350 a week there was a full bedroom apartment available now at 11/27 Jessie Street, Northcote, with bond at $1,521.
Amira Khatoun, leasing consultant at Little Real Estate Carlton listed it as “a wonderful opportunity to embrace the inner city lifestyle”.
The rental has built in robes, open plan living area, a modern kitchen with stainless steel appliances and dishwasher, with a combined bathroom-laundry and off street parking for one vehicle.
Ms Crarey said renters needed to think strategically in the current rental market to find a property on a tight budget.
“I recommend looking at postcodes next to popular areas, as they often offer more affordable options without losing out on convenience. Also be open to rethinking the type of home you want to live in, it can broaden your options and help you find a rental that fits your budget.”
ADELAIDE
Struggling to make ends meet but don’t want to miss out on everything capital city living has to offer? Adelaide’s got you covered!
This modern one-bedroom apartment at 201/33 Frew St could be yours for as little as $338 a week but prospective renters should be aware that the affordable price tag comes with a major twist.
According to the listings add on realestate.com.au, the apartment is part of a rental affordability scheme, offered by the landlord.
To be eligible for the property, your previous 12 months of gross income cannot be more than $61,322 for a single adult and $84,782 for couples combined.
A couples annual income with one child cannot be greater than $105,125.
If this sounds like you, then the apartment – complete with a private balcony offering views over the CBD and Adelaide Hills, is sure to delight.
The home has a generous open-plan living, dining and kitchen area, reverse-cycle airconditioning, a sparkling clean bathroom equipped with laundry, and secure video intercom and access.
The property is for lease through Magain Real Estate Adelaide.
- With Lydia Kellner
Originally published as Six capital city rentals under $350 a week
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