Do you think that we are enjoying freedom after lockdown? Prices of basic needs like food, clothing and shelter and other services that are in demand due to lockdown are spiking so high despite in lockdown so far. According to the domain report, the rent of the house has increased to 580$ per week within 3 months. Other retail services have also surged 50% of their prices to recover from their losses. This is based on my personal experience when visited beauty parlour for service, the cost of threading is increased by 10$ with no prior notice.
Unit prices are also on rise and it is costing 465$ beating 2018 record. Sydney is the most expensive city to live when compared to other countries. There is a new model gaining so much popularity called “rent to buy”, you pay extra rent that will saved as your deposit for your own home. It would be useful for students and young adults who plans to own a new home.
Sydney Start-up “Own Home” is helping students using this unique equity concept. Other options to consider for rent are universities. Macquarie University Village is a spacious student accommodation in Sydney that offers students a variety of rooms. Western Sydney University Village Campbelltown Campus is a beautiful student housing in Sydney that is just 5-minutes away from the city centre.
To avoid this spike, always look for shared accommodation or university’s for the best prices. Also, it would be good to post in Facebook community groups where they rent single rooms for cheaper prices.