Rising Rents Challenge Swinburne Students
by Illana Massaro
Soaring rental prices across Melbourne’s inner east are forcing some Swinburne University students to move further from campus, taking on extra work or reducing study loads.
The pressure comes as Melbourne’s rental market remains highly competitive, with low vacancy rates and boosted rents making it almost impossible for students to secure affordable accommodation near university.
Swinburne's Student Financial and Housing Officer Stuart Martin said that, in the face of housing affordability issues, students are doing it tough. "If you live at home with your parents, housing isn’t an issue for you; however, it does certainly become an issue if you want to move out of home," he said.
Martin said Hawthorn’s high property values around the university campus contribute to the problem. “Our campus s a very expensive suburb to live in anyway," he said. "It’s difficult to find the type of accommodation students can afford close by.”
The issue reflects broader trends across Melbourne’s rental market. Vacancy rates have remained low while rents have increased across many suburbs, placing additional pressure on renters. "When you move out of home, you've got to do all your cooking, cleaning, washing, go to your job and study. You also lose a lot of time when you move out of home," Martin said. "You might not be able to afford to live closer to campus, so you might be traveling more too and that becomes a big factor."
Martin said many students were experiencing rental stress, with housing costs consuming a large portion of their income. "I know students are spending well above 30 per cent of their income on accommodation, and once you hit above 30 per cent, you're in rent stress and financially that's very tough."
The Swinburne Student Association and university support services assist students experiencing financial hardship, including budgeting advice, housing guidance and financial support options. Martin said students should seek help early, before financial problems become overwhelming. "The key is to come and ask for help. Sometimes it's about doing a budget, sometimes it's about maximising your income, and sometimes it's about looking at whether where you're living is actually affordable."
Martin adds that planning and informed decision-making were essential for students considering moving out of home. “It’s about getting someone to give you some support and advice to help you make informed decisions. We've done the numbers, these are your options, and then you can make the best decision based on that information."
With affordable rentals becoming harder to find near Hawthorn, students are increasingly weighing the cost of living close to campus against the demands of study, work and travel.
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