It’s never been harder to find an affordable place to rent in Melbourne.
New figures published by Domain shows the proportion of affordable properties available to rent had plunged to a record low.
The Department of Health and Human Services’ rental affordability data shows just 5.7 per cent of new lettings were affordable over the March quarter — the lowest since the report was first compiled in March 2000.
Housing experts say the latest figure for metropolitan Melbourne was not surprising, but shocking nonetheless.
National Shelter executive officer Adrian Pisarski told Domain affordable rentals for low-income earners were diminishing because incomes were not keeping pace with rental prices.