Thread: Canberra rents are dropping

$1500-2500 to move is $28-$48/week over a year (notwithstanding that you might be able to stay in the new place for longer than that).
So if you move, its your new rent ~$30-50/week.

At $400/week in your current place, you're saving $50/week on your current rent.
Depending on the actual moving costs, you'd need to get a new place for $350-370/week to break even against the $400/w in your current place (unless I've stuffed up the maths).

Steve

I can almost guarantee that if you want to go from $450 to $400 or even less the landlord will say no - $10 to $20 you may get away with it but greater than that not much chance.

While your assessment of the rental market may or may not be correct, I doubt that your Landlord will see things the same way and will most likely call your bluff if you want to drop the rent more than $10 -$20 a week.

You must be over in Gungahlin - lots of oversupply.

Garry

Originally Posted by garrycol

While your assessment of the rental market may or may not be correct, I doubt that your Landlord will see things the same way and will most likely call your bluff if you want to drop the rent more than $10 -$20 a week.

You must be over in Gungahlin - lots of oversupply.

Garry

Oversupply is right. 36 properties for rent in Palmerston alone, 12 of which are 3 bedroom townhouses for less than $400.

But I do get your point that the landlord probably will not view it the same way. In which case moving is probably the most economic solution.

Can you reduce your moving costs by moving next door or nearby if there are that many vacancies ? All you would need is a hand trolley

I imagine gc is correct when he writes that landlords are unlikely to reduce your rent much, property investors aren't noted for being lateral thinkers (that's why they "invest" in property).

Originally Posted by Gullible

Palmerston

Dodgy area - I wouldn't pay more than $300 a week to live there .
Take the opportunity to move to a more salubrious area, one befitting a Landrover driver.

Originally Posted by 87County

Can you reduce your moving costs by moving next door or nearby if there are that many vacancies ? All you would need is a hand trolley

A trolley would work, only the 2 properties for rent in our street are both up the hill, granted only 4 doors up, but still up hill. They are so close I'd feel a fool renting a trailer too.