Rental affordability in Maroondah hits all-time low

RENTAL affordability in Maroondah has hit an all-time low with less than one in 50 homes considered within reach of tenants, according to new figures.

The latest rental report from the Department of Health and Human Services showed Maroondah’s rental prices were among the least affordable in Victoria in the three months to March.

It marks a stunning downturn in housing affordability in the municipality, where just 13 years ago nearly half of all rental properties were within the means of tenants.

The department defines affordable housing as spending less than 30 per cent of one’s gross income on rent.

The department’s report showed the median rental in the area cost $380 a week in June — a four per cent increase on 12 months earlier.

During the same period, the number of new lettings in Melbourne’s outer east dropped 1.2 per cent to 2167.

Click here to read more.