Is this 'prison cell' rental in Melbourne really worth $320? Find out why renters are outraged
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Australia's housing crisis has been the topic of debate for quite some time now, and renters have been struggling to find decent homes at reasonable prices. Unfortunately, the number of 'outrageous' and 'unreasonable' rental properties continues to grow, leaving many of our fellow Aussie seniors feeling frustrated and disheartened.
A perfect example of this is a tiny studio apartment in Melbourne's Central Business District. Dubbed a 'prison cell' by angry renters, this cramped space on Flinders Street has been put up for rent for a jaw-dropping $320 per week!
The studio barely fits a queen bed and comes equipped with a wall-mounted television, microwave, a single electric fridge, and a sofa. Residents would have access to a shared washer and dryer on the floor, but even that comes with an additional cost of $4 per use.
But the 'prison cell' size isn't the only thing that has renters up in arms. The apartment has stained walls, dirty floors and outdated popcorn ceilings—not exactly the comfortable and well-maintained space one would expect for the steep price.
Adam Flynn, Victorian State Director of the Coronis Real Estate Group, described the current housing situation as a 'Mexican standoff,' where renters, buyers, and landlords are all in a bind due to inflation and interest rates. Speaking to FEMAIL, Flynn said, 'Any reasonable person would call renting that property for $320 a week outrageous.'
Sadly, the disappointing condition of the property extends beyond just one apartment. According to a Melbourne renter, the building itself is a nightmare. With an empty, mosquito-filled pool in a central open atrium that resembles a scene straight out of a horror movie, the building's facilities are far from inviting.
Other renters who have visited the building for inspections have noted issues such as the lift nearly getting stuck and railings and landings on each floor looking uneven, causing concerns for the safety of potential tenants.
In response to such challenges, housing expert Flynn advises tenants to reevaluate their lifestyles and priorities. Some may opt to endure substandard living conditions like the Flinders Street property, while others might choose to move 10 or 15 kilometres away from the city in search of a better quality of life at a more affordable price, albeit with the trade-off of increased commuting time for work and study.
The shocking rental listing has sparked widespread attention and disbelief among Australians online, with numerous comments expressing astonishment at the exorbitant price for such a small and poorly-maintained space.
Navigating the Australian housing crisis can feel like an uphill battle for both renters and landlords. Renters often face inflated prices due to housing shortages and economic inflation, making it challenging to find affordable housing options. Many Australians in major city hubs are struggling to cope with rental prices that are out of sync with their wages.
In cities like Sydney, rent prices continue to soar, reaching an all-time high average of $590 per week. Melbourne follows closely behind at an average of $405, while Brisbane stands at around $395. Perth has an average weekly rent of $350, with Adelaide slightly lower at $298. According to the Rent.com.au Rental Affordability Report 2019, the nationwide average weekly rent stands at $408. However, Propertyology's investment specialists have recently reported a decrease in rents for the first time in a decade.
Renting can be a challenging and uncertain journey for many Australians. It serves as a reminder to stay informed about market trends, consider options outside the inner city, and explore more affordable areas. Opting for larger but more affordable rental options, such as two or three-bedroom apartments, often offers better value for money. Additionally, splitting the rent with a roommate can be an effective way to save money if it suits your circumstances.
In the end, the choice boils down to individual preferences and priorities; but one thing is for sure, the 'prison cell' rental on Flinders Street serves as a stark reminder of the challenging housing situation in Australia.
We encourage our readers to stay informed about the housing market and be vigilant when searching for rental properties—you deserve a comfortable home that fits within your budget. Don't be afraid to negotiate, consider alternative locations, and always ask for assistance from friends or family when needed. Together, we can tackle the housing crisis, one rental at a time.
A perfect example of this is a tiny studio apartment in Melbourne's Central Business District. Dubbed a 'prison cell' by angry renters, this cramped space on Flinders Street has been put up for rent for a jaw-dropping $320 per week!
In Melbourne's Central Business District, a compact studio apartment has garnered attention for its petite size, earning the nickname 'prison cell.' Surprisingly, this unique space has been listed for rent on Flinders Street for $320 per week. Source: dailymail.co.uk
The studio barely fits a queen bed and comes equipped with a wall-mounted television, microwave, a single electric fridge, and a sofa. Residents would have access to a shared washer and dryer on the floor, but even that comes with an additional cost of $4 per use.
But the 'prison cell' size isn't the only thing that has renters up in arms. The apartment has stained walls, dirty floors and outdated popcorn ceilings—not exactly the comfortable and well-maintained space one would expect for the steep price.
Australian renters are facing the brunt of the country's housing crisis, with the number of ‘outrageous’ and ‘unreasonable’ rental properties steadily rising every day. Source: dailymail.co.uk
Adam Flynn, Victorian State Director of the Coronis Real Estate Group, described the current housing situation as a 'Mexican standoff,' where renters, buyers, and landlords are all in a bind due to inflation and interest rates. Speaking to FEMAIL, Flynn said, 'Any reasonable person would call renting that property for $320 a week outrageous.'
The available space is designed to accommodate a queen bed and is equipped with convenient amenities such as a wall-mounted television, sofa, microwave, and a single electric fridge. Source: dailymail.co.uk
Sadly, the disappointing condition of the property extends beyond just one apartment. According to a Melbourne renter, the building itself is a nightmare. With an empty, mosquito-filled pool in a central open atrium that resembles a scene straight out of a horror movie, the building's facilities are far from inviting.
Other renters who have visited the building for inspections have noted issues such as the lift nearly getting stuck and railings and landings on each floor looking uneven, causing concerns for the safety of potential tenants.
The exorbitant price tag attached to a studio apartment dubbed the 'prison cell' has left many people astonished after the listing gained widespread attention on the internet. Source: dailymail.co.uk
Average Rental Prices in Major Australian Cities
The viral listing of the exorbitantly priced 'prison cell' studio apartment has shed light on the dire state of Australia's housing market. Renters are facing tough decisions, contemplating whether they can afford better-quality homes further away from their workplaces and city conveniences.In response to such challenges, housing expert Flynn advises tenants to reevaluate their lifestyles and priorities. Some may opt to endure substandard living conditions like the Flinders Street property, while others might choose to move 10 or 15 kilometres away from the city in search of a better quality of life at a more affordable price, albeit with the trade-off of increased commuting time for work and study.
The shocking rental listing has sparked widespread attention and disbelief among Australians online, with numerous comments expressing astonishment at the exorbitant price for such a small and poorly-maintained space.
Navigating the Australian housing crisis can feel like an uphill battle for both renters and landlords. Renters often face inflated prices due to housing shortages and economic inflation, making it challenging to find affordable housing options. Many Australians in major city hubs are struggling to cope with rental prices that are out of sync with their wages.
In cities like Sydney, rent prices continue to soar, reaching an all-time high average of $590 per week. Melbourne follows closely behind at an average of $405, while Brisbane stands at around $395. Perth has an average weekly rent of $350, with Adelaide slightly lower at $298. According to the Rent.com.au Rental Affordability Report 2019, the nationwide average weekly rent stands at $408. However, Propertyology's investment specialists have recently reported a decrease in rents for the first time in a decade.
Renting can be a challenging and uncertain journey for many Australians. It serves as a reminder to stay informed about market trends, consider options outside the inner city, and explore more affordable areas. Opting for larger but more affordable rental options, such as two or three-bedroom apartments, often offers better value for money. Additionally, splitting the rent with a roommate can be an effective way to save money if it suits your circumstances.
We encourage our readers to stay informed about the housing market and be vigilant when searching for rental properties—you deserve a comfortable home that fits within your budget. Don't be afraid to negotiate, consider alternative locations, and always ask for assistance from friends or family when needed. Together, we can tackle the housing crisis, one rental at a time.
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