I assume the situation in Melbourne is similar. Here is just crazy. The two bedroom apartment I rented a few years ago for $450/w is now $700/w. A one bedroom apartment in any decent location is now minimum $400/w and probably more like $500.
Rent has gone up 50% in the last 3 or 4 years and seems like it's going to keep going. To comfortably rent a decent 1-bedroom apartment, ie to keep your rent around 30% of net income, you now need to earn $100k. Will it be $150k in 3 years? I'm not sure I will be making that much!
Maybe I should move to Brisbane, which is like Sydney 5 years ago ..
Rent has gone up 50% in the last 3 or 4 years and seems like it's going to keep going. To comfortably rent a decent 1-bedroom apartment, ie to keep your rent around 30% of net income, you now need to earn $100k. Will it be $150k in 3 years? I'm not sure I will be making that much!
Maybe I should move to Brisbane, which is like Sydney 5 years ago ..