$750 a week rent is on the more expensive side of rental agreements in Australia. With wages rising 41% in the past 10 years, rents have risen nationally by 54%, therefore, rentals are overtaking the growth of wages, making it more and more expensive to live in Australia. So what does $750 a week get you in Australia compared to a city like New York. Take a look:
Distance to CBD: 11.7km
This gorgeous home has three spacious bedrooms, four bathrooms and has had the interior renovated. It has solar electricity, ducted and panel heating, alarm and rainwater tanks. Just a short stroll to trains, trams, buses, parks, cafes and shops and all highly regarded schools are nearby. (Oh, it also has an outdoor spa!)
And from New York….
Distance to CBD: 7km
This is a one bedroom apartment, that has a courtyard connected to it. Don’t expect to be in the heart of Manhattan however, this home is located in northwest Brooklyn but provides a cosy feel.
Distance to CBD: 9.3km
This freestanding two bedroom Federation residence provides two double bedrooms. Separate lounge and dining areas. Open plan eat-in kitchen with dishwasher. A period bathroom with spa bath. Internal laundry. Polished timber floors throughout. Ornate ceilings and leadlight windows. Air-conditioning, and a secure lock-up-garage.
Upper west side, 1 BDR apartment.
Distance to CBD: 3.5km
This apartment is a one bedroom apartment in the glamorous Upper West Side. With exposed brick, it is one of the more traditional NYC apartments in a prime location. It does come with a balcony, but isn’t cheap at $750 a week!
his two bedroom home in Port Melbourne is located between Albert Park and Port Melbourne shopping precincts and is certain to impress the most discerning individual! Featuring two large bedrooms both with large BIRs, plantation shutters, high ceilings and attic storage. Pretty good value for $750 a week.
So as much as we complain about rising rental prices, it does go to show that the value of offering for the money you spend is better than other places in the world. The same money can in some cases get you a one bedroom apartment, in a location that is no where near prime.
Next time you complain about rising rental prices, remember what others are paying in leading cities.
abundance over international investment locking out locals, it does make sense, and we could be in for further investment from American shores.