The ongoing rental crisis, combined with a rising cost of basic necessities, is continuing to cause financial strain on Sydney residents.
Rent has continued to increase across Australia in the past year, with Sydney having the highest median weekly rent of all state capitals, according to a report by CoreLogic.
Retail Worker Kesley Hawkins is impacted by Sydney’s increasing prices, and said she has had to take on more hours at work, including weekends and penalty rates, so she can afford continue to live in the city.
“We are currently paying $650 a week for a small two-bedroom unit, [with paint] peeling off the walls – it’s not really what we would have hoped for,” Miss Hawkins said.
“I’m spending more money on rent than anything else.
“I currently live with my partner and my two miniature dachshunds, so when we are looking for rental properties it’s been quite challenging. I want to have a backyard, and I want to able to have a nice balcony.”
The crisis has made many reevaluate their ability to financially survive in the city, with many relocating to other parts of the country.
These trends don’t appear to be declining for Sydney or the country at-large, with the national median weekly price of rent now at $625 a week.
The only state capital to see an annual decline in median weekly rent was Darwin, which is 0.2% less expensive than April 2023.
“I’m moving back to my hometown in Port Macquarie with my partner and dogs, we just simply can’t afford it,” Miss Hawkins said.
“You know it’s not only the rental crisis, but it’s also the bills, its everything else that comes with it.”
