Sydney Rental Property Hits Headlines After ‘Nice Bloke’ Landlord Refuses Rent Increases

A picture of a huge queue for a Sydney rental apartment has served as the perfect look into Australia’s ongoing housing crisis.

The image was posted to Reddit, and has received a strong reaction.

The unit is a one-bedroom apartment situated in Leichhardt, and features a balcony, access to a pool, and internal laundry.

However, the larger-the-usual queue is owed to the landlord’s dirt cheap asking price of just $500.

Users were initially sceptical about the abnormally low asking price for the unit. According to data from realestate.com.au, the median price for a one-bedroom apartment in Leichhardt from March 2024 to February 2025 was $550 per week.

“Realtors do this on purpose. They list the rental for way under market value which facilitates a bidding war so that the rental gets over market value,” opined one user.

‘Real nice bloke’ landlord insisted on lower rent for Sydney rental

But Hudson McHugh, a real estate agency, told Newscorp that the landlord was just a “real nice bloke.”

The agency added that they had advised the landlord that the market average was around $580 to $610 per week, but the landlord had insisted on keeping the rate at $500. 

Property manager Elliot Kazzi said that this was a “personal preference.”

“He is sensitive to the challenges renters face and prefers to maintain a lower rent. This has been his position even with existing tenancies over the years,” said Kazzi. “It’s refreshing to see a landlord go against the perceived stereotype and prioritise affordability for tenants.”

The picture and the ensuing comments also showed that the housing crisis across Australia as a whole showed no signs of calming down. 

Redditors share thoughts, incl. that building’s other units $180 more per week

Social media users were quick to chime in with their own thoughts.

“I moved into this building at the start of Covid for $500, I just moved out with rent at $680 – no wonder it’s got a line out the door,” wrote one user.

Another user commented on the accessibility for university students.

“I can see why it’s so popular. If I were a USyd student I’d love to take that unit if I could afford it.”

Vacancy rates in Australia’s major cities dropping

According to SQM research, the vacancy rates across many major cities in Australia were dropping.

Sydney’s vacancy rate dropped back to 1.4%, while Melbourne also reported a similar number at around 1.5%. 

Cities like Brisbane and Hobart were reporting record-low rates, with Brisbane reporting a rental vacancy rate of just 0.8 percent. Hobart’s vacancy rate was even worse, reporting a rate of 0.3%, the lowest rental vacancy rate ever. 

Managing Director of SQM Research Louis Christopher told the Daily Mail that he believed that Australia’s rental market had the potential to get even worse in the coming months.

“Is this a one-off abnormality? Unfortunately, I don’t think it is as our records of February listings to date are lower than what was recorded in January.” wrote Christopher.

“From a tenant’s perspective, the sharp drop in rental vacancies at the start of 2025 is highly disappointing, especially since there were some glimpses of a moderating rental market in the latter half of 2024,” he added.