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“My marriage broke down and we had to sell our house,” Aitken said. “I was worried I would become homeless because I knew I wouldn’t have enough money to buy anything in Melbourne.”
“I think (some) women have to make that choice … either stay in the relationship or be homeless.”
After six months of searching, Noeline Aitken, 76, and her cat, Casper, finally found a house she could afford in Brunswick through HomeGround Real Estate. Credit: Joe Amao
She hopes to move to the inner north to be closer to her adult children, but says attending countless inspections and filling out applications feels like a stressful full-time job.
“Anything in my price range is terrible, but beggars can’t be choosers. It’s a bit like fighting a losing battle to get something,” Aitken told age.
She said she felt honoured to have finally secured a rental that she could afford with her weekly pension after competing against applicants with two working parents.
“I live on a pension and there’s no hope of competing with all of them. It’s really depressing.”
Aitken said she might still be looking for a place to live if she hadn’t found a discounted property through HomeGround Real Estate, a property management company that rents properties at or below market value.
HomeGround Real Estate property manager Emma Noble has seen an increase in applications for discounted rental properties in recent months.
“We are finding that more and more people are desperate for affordable housing options…housing is considered affordable when the cost of housing does not exceed 30 per cent of a person’s income, however, there are very few rental properties in this range for low-income earners,” Noble said.
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“We are seeing people seeking lower rents due to rising rents and general pressures from higher costs of living, and appear willing to sacrifice certain amenities in order to opt for more affordable housing.”
Westpac senior economist Matthew Hassan said a shortage of rental stock coupled with increased demand was driving up rental prices and having a spillover effect as renters could no longer afford to rent in their preferred suburbs.
“What we’re seeing is that demand at the most desirable end of the market is driving up rental costs, so potential tenants are starting to flock to other markets,” Hassan said.
“As renters start to move down the curve, other renters may start to move down the curve as well. That’s a pretty worrying sign.”
Hassan added that Victorian investors were Land tax increased last year This results in a decrease in the number of properties available for rent.
Rents have increased across a range of Melbourne’s affordable housing suburbs.Credit: Oscar Coleman
“Owner-occupiers may move into these spaces, which will indirectly reduce the available rental stock.”
Ray White Glenroy director Mete Karan is seeing competing tenants at Broadmeadows and Jacana offering leases of up to six months and, in some cases, a full year. Pre-lease To ensure property safety.
Inspections at some properties in the area have more than doubled.
“Once upon a time, Broadmeadows was just locals, and now we’re finding people coming from all over Melbourne,” Mr Callan said.
“We get a lot of young couples who can’t afford housing in the inner north.”
Mr Callan said while rents in the area had increased, suburbs such as Broadmeadows and Jacana were still more affordable than other parts of Melbourne.
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