Sad detail behind $300 a week Sydney rental – Sky News Australia

by | Feb 16, 2023 | Engineer

In a sign Sydney’s rental crisis is deepening, a landlord has advertised his balcony for $300 per week – but it comes with a set of bizarre conditions. 
A landlord has listed his tarp-covered balcony located in the heart of Sydney’s CBD for an astronomical $300 per week.
 
Taking to a Facebook group for Sydney rentals on Monday, the landlord advertised the “private room” in Haymarket’s 38-storey Miramar building in the city’s CBD. 
Photos of the room show a single bed on what appears to be an enclosed balcony with heavy curtains and tarpulin-covered windows, while a desk and clothes rack are squeezed into one corner. 
“1 boy only/ 300 / week,” the add reads. 
“Quick response…please kindly send me your information.”
The landlord then asks prospective tenants to answer a series of bizarre questions, including whether they will bring “big electronics” or a bike, and what nationality they identify as.
The listing also includes photos of an indoor swimming pool and communal gym, and boasts a close proximity to public transport and shops. 
“New, Quiet and clean apartment,” the landlord wrote. 
“NEXT TO WORLD SQUARE, only 5 minutes walk to town hall station, Chinatown, UTS, Paddys market, Coles and Woolworths.
“All bill included, fast NBN WIFI and rice, basic cleaning stuffs and cooking stuffs. Min. stay 4 months. Prefer long term and less cook. $800 deposit and $200 bond key. 3 weeks notice move out.”
The Miramar building last September sold a three bedroom unit for $1.5 million, while the potential rental income for a two bedroom, one bathroom lies at around $810 per week. 
Even a parking spot at the location can be leased for up to $650 a month. 
The listing is a grim reminder of Australia’s crippling housing crisis, as thousands of residents struggle to maintain or secure accommodation amid repeated interest rate hikes and stagnant wage prices. 
Rentals prices in Sydney alone have risen at a record rate, with the median weekly rent for a house now at $630, followed by $530 per week for a unit.
The reason behind the surge is partly due to not enough supply to match the demand, while overseas migration and international students are also adding to the pressure. 
The Albanese Government last week legislated a $10 billion investment into the Housing Future Fund to tackle the multi-faceted issue of housing, which includes unaffordable rents and lack of social housing. 
It is the largest single injection into social and affordable housing in more than a decade.  
Under the fund, the Federal Government will build 30,000 new social and affordable homes in an effort to ease the pressures of the housing and rental crisis plaguing Australian cities.
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