The media’s still bringing the bad news about Covid-19, and the return of restrictions in some parts of Australia (* cough * Melbourne * cough *) isn’t exactly lightening the mood. But it turns out the Covid cloud has a silver lining for renters: the rental and share-property market is opening up at last. If you’re on a tight budget, you may find a better place for less than you’re paying right now.
If you’re ready to cancel 2020, you can change things up with a change of scene — and flatmates, if you like. Last but not least, locations and properties that were once beyond most renters’ reach are now much more affordable.
Let’s see how things are shaping up.
It’s the old law of supply and demand: since demand for share houses is falling, rents are coming down, too. Do a quick search, and you may find that rooms that were out of your price range six months ago are now within reach. Even (or especially) if your income was hit by Covid-19, you might find yourself better off in a new property — both financially and lifestyle-wise.
Fancy a place by the water? Closer to work? Nearer to nightlife? You could be in luck. Properties are popping up in what were tightly-held locations — places where even a single room in a share house was once hard to come by.
Not only that, but the quality of those share houses is high. Many come not just fully furnished, but well-furnished. Finding your dream home in your dream suburb is now a real possibility. Have a look around: you’ll be surprised by what’s on offer.
Remember the bad old days? When you’d queue all Saturday morning with hordes of others to inspect a property you could barely afford? Or be rushed through a house inspection with your new potential flatmate as the next candidate just arrived?
Well, those days are over.
Now, rental and share-house inspections are being held on a restricted basis in many states, so you won’t have to elbow your way through a crowd to get a glimpse of a property. In fact, since there are fewer tenants in the market, you’ll probably find landlords, agents, and would-be housemates are delighted to show you their places and answer any questions you have. How nice!
Australian border closures have seen international traveller and student numbers evaporate. As a result, space is opening up in inner city locations around the country. If you’ve ever toyed with the idea of a pied-a-terre in the CBD, now’s the time to test the waters. From historic lofts and warehouse renovations to all-new apartments, there are some great places on offer — and at great prices.
Play your cards right, and you could cut your commute and your rent in one step!
Those international border closures are expected to last until at least 2021, which means Airbnb and holiday homes are now being let for the long term. That’s right: a holiday home could now be your home. Hooray!
Of course, these are not your standard rental properties. They’re stunners — and some come fully furnished, too. While they’re not as affordable as regular rentals, they’re priced in line with the market, which ultimately means more luxe for less. We’re talking gorgeous views, architectural design, quality fittings, spas and decks, wine cellars … the list goes on.
A simple search — either on the last place you went for a long weekend, or the suburb down the road — may turn up some great ex-holiday rentals.
It’s a really scary time for everyone and for most, 2020 has been a write off. One positive that could come out of the year is moving into your perfect home. So what are you waiting for? Start searching!