As rental prices in Perth continue to head north, entrepreneur Marty Spargo is considering a move to Malaysia.
Spargo, who lives in a shared house in Belmont, was recently told by the landlord that his rent would go up by $100 a week.
Marty Spargo is planning to move abroad to Malaysia where housing is more affordable. attributed to him:Marty Spargo
“It’s pretty grim trying to find a new place. I’ve given up. Anytime a decent rent is posted, the owner is quickly flooded with inquiries. It’s very competitive,” he said.
“You just have to take what you can get or live in a tent.”
Spargo said he is looking forward to moving to Malaysia next year where housing is more affordable.
“For what I pay for a house in Belmont, in Kuala Lumpur, I can rent a luxury three- or four-bedroom apartment,” he said.
Perth’s tenants took another financial hit with home rents hitting a record high of $500 a week while unit rents are set to hit a record high before the end of the year.
Affordability constraints, out-migration and returning international students showed unit rents rose 5 percent over the quarter to hit the highest point since 2013, at $420 a week, according to the most recent domain rent report for the September quarter, released Thursday,.
Originally published at Melbourne News Vine
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