Gerald Lynch
Rental “pain” is being felt heavily throughout Brimbank, with almost all suburbs rated to be feeling extreme rental pain according to new data from Suburbtrends.
Suburbtrends releases a monthly Rental Pain Index (RPI) which scores suburb groups out of a hundred on rental pain. The score is derived from measuring rental prices, household incomes, vacancy rates and advertised rentals.
The Brimbank suburb of Kings Park received an RPI score of 93.48, with anything over 75 considered “extreme” rental pain.
The majority of suburbs in the west were in extreme rental pain, with other Brimbank suburbs Keilor Downs, St Albans, Cairnlea, Delahey, Hillside, and Taylors Lakes, Ardeer, Deer Park, Sunshine West, Sunshine North, Sunshine, Sydenham, Tullamarine and Derrimut in the extreme bracket.
Keilor was reported to be feeling the least amount of rental pain, and was the only Brimbank suburb not in the extreme category, with an RPI score of 65.88.
Suburbtrends founder Kent Lardner said this month’s Rental Pain Index highlights a concerning trend within the Melbourne market, with a significant uptick in scores, signalling growing distress rather than improvement.
“Historically, Melbourne has offered relatively favourable living conditions compared to income levels,” Mr Lardner said.
“In Melbourne’s west, the Rental Pain Index reveals a pressing narrative of rental market stress, marked by escalating rental prices, dwindling affordability, and tight vacancy rates.
“The data paints a stark picture of the rental landscape in Melbourne’s West, characterized by rapid rental price increases, a significant portion of income dedicated to rent, and low vacancy rates, all contributing to the high rental pain index scores. This situation underscores the urgent need for strategies to improve rental affordability and availability, ensuring that all residents have access to sustainable housing solutions.”
