Bargain room rentals: suburbs where rent has dropped
Thanks to Covid, rent is cheap y’all! You can live your best inner-city life as your best smug self coz rent in some of the hottest suburbs has dropped by over a quarter of the price. So what are you waiting for? Get moving!
Over the last year, from December 2020 to December 2021, we’ve seen housing prices in outer suburbs and regional locations climb as the capital cities experience an exodus like never before. The bonus for share house renters? What were previously prime locations — suburbs like Bondi in Sydney, or St Kilda in Melbourne — have seen room rates plummet. So if you’re looking for a new place, consider the perks of these hot spots!
1. Bondi
Current average rent per week: $228
Yearly drop Dec 2020-Dec 2021: -27%
As we hit the hottest month of the year, now’s the perfect time to move to Bondi, where the average weekly room rent has fallen by a whopping 27% in the last 12 months, to $228. Sip your post-morning-surf smoothie overlooking Australia’s most iconic beach. Rub shoulders with Insta influencers on the daily. Prepare to soak up the sun and fun, friend, because Bondi just became a bargain!
2. St Kilda
Current average rent per week: $241
Yearly drop Dec 2020-Dec 2021: -20%
With room rentals falling by 20% in the last year, St Kilda has become a lot more affordable — at $241 per week on average. That means you’ll have more cash to splash on Acland Street cakes, nights out on Fitzroy St and lazy beachside brunches. Whether you’re into boho or fitspo, you’ll find your groove in St Kilda — and now at a price that lets you enjoy everything the area has to offer.
3. Parramatta
Current average rent per week: $200
Yearly drop Dec 2020-Dec 2021: -18%
Want to live in the city without, well, living in the actual city? Parramatta’s the place. It’s safe, it’s convenient and it has a blossoming dining scene — which you’ll be able to make the most of since you’ll be saving so much on rent. A huge 18% less than this time list year, in fact (you’ll pay than $200 per week, on average)! No wonder everyone from families to students loves it here. We reckon you might, too.
4. Surfers Paradise
Current average rent per week: $302
Yearly drop Dec 2020-Dec 2021: -12%
Home, they say, to the greatest beaches on Earth, you probably wouldn’t expect to see Surfers on this list — especially with all those southerners moving north over recent months. Truth is, this area has seen rents fall by an average of 12% in the last year, to $302 per week. If you live in SE Queensland adn you’re ready to make the move, check out our mates at PicUp who’ll not only help you move, but keep your wallet happy.
5. Brunswick
Current average rent per week: $232
Yearly drop Dec 2020-Dec 20201: -10%
Hooray! Securing a room in Melbourne’s coolest suburb no longer requires you to sell your soul! Rents here have dropped 10% in the past year, on average, to $232 per week. That means it’s the ideal time to find your place among the city’s emo-boho-alt-vego crowd. Let Brunswick’s live music, great food and friendly neighbours spark your creativity: now’s the moment to make your move.
Avoid these suburbs where rent has risen
Just as some suburbs have seen price decreases, others have become hot property — with rents to match.
Beachside, relaxed Frankston, with its easy commute to Melbourne’s CBD, has seen a truly insane 34% increase in rents over the past 12 months, to $193 per week. Southport, in Queensland, and Tasmania’s Sandy Bay have seen rate rises of 23% (to $277 per week) and 21% (to $320 per week) respectively. Rents in Hoppers Crossing, in outer Melbourne, have jumped 16%, to $168 per week, and in Sydney’s Surry Hills have risen 15%, to $315 per week. Don’t be seduced by the new-found popularity of these places — there are much better-value spots to share a house right now. All you need to do is look around!
If you’re still not sold, why don’t you try our cheaper suburb finder? Just pop in your dream suburb and we’ll pump out suburbs that are nearby but are cheaper - saving your saved earned money for more fun!
