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‘Cheap’ Aussie rentals dry up: Here’s what $400 a week will get you

For just $400 a week, there isn’t a whole lot you can rent in the nation's capital cities.

A composite image of two rental properties available in Melbourne and Darwin for under $400 per week.
The number of rentals available for under $400 per week are few and far between. (Source: Domain)

It’s no secret the rental market is out of control and, while a single person could find a reasonable property for under $400 a week a few years ago, they are harder to come by now.

In fact, the share of total properties listed for rent below $400 per week on realestate.com.au fell to a new low in April, almost halving to just 16.2 per cent from 30.2 per cent last year, according to the latest PropTrack Market Insight Report.

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“The nation’s rental market is in dire straits, with little sign of meaningful reprieve on the horizon,” Proptrack senior economist Eleanor Creagh said.

“Advertised rents are recording strong price increases and vacancies are at historic lows amid a shortage of rental supply.”

So what can you get for under $400 per week? Take a look.

Sydney

While this apartment does sit in the sought-after suburb of Paddington, it is small - to say the least.

For $350 per week, the studio apartment sits on the top floor of a small block. It has a kitchenette and a private bathroom - but that’s about it.

The kitchenette has a sink and just one counter that comes with a portable cooktop because there are no appliances built in. It also only has enough space for a bar fridge.

Inside the Sydney rental property available for under $400 per week.
(Source: Domain)
Inside the Sydney rental property available for under $400 per week.
(Source: Domain)

Melbourne

For $380 per week you could snag this studio apartment in Carlton North but, again, it is small.

With just a small dividing wall to separate the bedroom and the living space, there isn't a lot of room for activities. But you do get access to a communal outdoor lap pool, recreation area, gym, outdoor basketball court and a BBQ area.

Inside the Melbourne rental property available for under $400 per week.
(Source: Domain)
Inside the Melbourne rental property available for under $400 per week.
(Source: Domain)

Brisbane

For $375 per week in Brisbane, there is a one-bedroom, one-bathroom and single-car-space property available in Coorparoo.

There is air conditioning in the master bedroom and an open-plan living and dining area that flows into the kitchen.

On public transport it would take you about 35 minutes to get into the Brisbane CBD.

Inside the rental property available in Brisbane for under $400 per week.
(Source: Domain)
Inside the rental property available in Brisbane for under $400 per week.
(Source: Domain)

Adelaide

In Adelaide, we are presented with our first house. The one-bedroom cottage in Adelaide is available for $400 per week and comes with air conditioning, a fireplace and a car spot.

And for those who enjoy getting some outdoor space, the home has a front verandah and a private courtyard out the back.

The exterior of the rental property available in Adelaide for under $400 per week.
(Source: Domain)
The interior of the rental property available in Adelaide for under $400 per week.
(Source: Domain)

Hobart

In Hobart, we’re back to apartments with this ground-floor, one-bedroom located in South Hobart for $380 per week.

Off-street parking is available but there is no outdoor space for the tenant. It does offer large, floor-to-ceiling windows in the living area.

The interior of the rental property in Hobart available for under $400 per week.
(Source: Domain)
The interior of the rental property in Hobart available for under $400 per week.
(Source: Domain)

Perth

For $400 per week in Perth, there is this one-bedroom apartment just steps from Langley Park.

It has a large kitchen with plenty of storage space and floorboards throughout. There is also a small separate room that could be used as an office for those who work from home.

The interior of the Perth rental property available for under $400 per week.
(Source: Domain)
The interior of the Perth rental property available for under $400 per week.
(Source: Domain)

Darwin

In Darwin, you can get a two-bedroom apartment for $365 per week, but it appears to need some TLC. Located in Moil, it would take around 45 minutes on public transport to get into the CBD.

Tiled throughout, it does have air conditioning in both bedrooms - a must-have for dealing with the Darwin heat - but there isn’t much else to it.

A composite image of the exterior and the interior of the rental property available in Darwin for under $400 per week.
(Source: Domain)

Canberra

Finally, in the nation's capital, for $345 per week, this self-contained studio flat is tucked behind the main residence.

It can be rented - furnished or not - and has reverse-cycle air conditioning. And while it does come with a large grass-filled yard, the listing says the tenant will be responsible for maintaining the lawn.

The exterior of the renal property available in Canberra for under $400 per week.
(Source: Domain)
The interior of the renal property available in Canberra for under $400 per week.
(Source: Domain)

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