Melbourne rents hit record $600 a week as tenants sacrifice food and healthcare

Melbourne’s median advertised rent has reached $600 a week, with a new survey revealing how even a $20 increase in housing costs could leave some Victorians struggling. Victorians are cutting back on meals, healthcare and heating as new research warns many renters couldn’t absorb another $20 a week rise to their cost of housing. The Everybody’s Home research found 43 per cent of Victorian respondents would have to cut back on essentials if their rent went up $20 a week. The study found 27 per cent of respondents said if their rent increased, they would need to sacrifice essentials such as food and medication and pay bills late, while 16 per cent said they couldn’t afford the increase at all. RELATED: Melb suburb smashes record twice, nears $2m Old church conversion part of a grander plan ‘Slavery’: Sister Act star’s sad debt, life at 51 Another 34 per cent would have to reduce non-essential spending. The results arrive after REA Group’s September Rental Report revealed Melbourne’s median advertised rent reached a record $600 a week, up 5.3 per cent – or about $30 a week – in a year. That is equivalent to a $1560 annual rise in the typical advertised rent. The study found renters we...