Tenants feel ‘rental anxiety’ as Melbourne rents hit record high

Median weekly asking rent for a Melbourne unitMelbourne house rents have hit another record high in June, putting more pressure on already stretched tenants in the cost-of-living crisis.

Domain chief of research and economics Dr Nicola Powell said it was too soon to say if the crisis was abating.“We know this crisis is not going to be solved in months, it’s going to take a long while for the tide to really shift. It was also possible tenants were unable to afford further rent rises, despite still having to compete for few available properties, Powell said.

The expensive and tight rental market was affecting the lives of tenants, lifelong renter Judy Steel said.Credit:Rising rents and a tight local market in the wake of the Maribyrnong floods pushed Steel out of the suburb and further out of the city.

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