Living out in the suburbs with 5 of your (formerly) best mates and they’re respective partners, pets and shower plug hair? Fighting over fridge space and how there’s always someone who hogs the clothesline? Because you could be luxuriating in a new inner-city apartment with a pool, gym, cinema room, billiards room, cigar lounge, karaoke room and mini golf course? Yes, for real, we just leased one! And all for the same price or less than what you’d be paying for your unrenovated 1930’s Californian bungalow in Coburg.
So, what’s happening? Why are prices currently falling and how can you capitalize on this? Melbourne has seen a steep decline in the rental market since mid 2020, yes, due to COVID-19. As many of the students who formerly made up a majority of the rental market in the CBD due to the convenience of living near the numerous Universities in and around the city, have seen a significant drop in numbers. According to the Australian Bureau of Statistics, in March 2020 Australia saw a 60% drop in international students entering the country!
As covid restrictions are lifting and there are more attractions being created to breathe life into the city again as we cautiously peep out of our lock-down cocoons. Fall in love with your city again! Remember that Melbourne really is the New York of Australia and it’s our cafe filled alleyways and culture consuming city folk that makes our town so unique and special.
It’s an exciting time in the city, it feels like the hibernation is over. With City of Melbourne’s FOMO campaign featuring amazing art exhibitions, public installations, exhilarating live shows and new restaurants for you to explore. If you’ve been dreaming of a fresh and modern new abode, then you can make the most of current dip in the rental prices and score yourself a swanky inner-city apartment. Now is the time, so jump on it!