Sydney most expensive capital city to move for renters
A new survey has found moving house in Sydney can cost almost half of the annual monthly wage.
Respondents to the to the Fair Go Finance ‘Make Moving Happen’, a survey of 3,383 Australian renters found $3,402 is spent on average to move properties.
Sydney is the most expensive capital city for renters to move with Melbourne is the cheapest.
Fair Go Finance managing director Paul Walshe said the research also found one in four renters moves every two years, and nearly half (44%) of renters surveyed have needed some assistance to pay the bond.
"If people are using a bond loan purely for bridging finance between properties, they need to make sure they can repay it early without penalty," he said.
"Features like this allow for greater flexibility when the need to move occurs, especially when it is unexpected due to job transfers or following a relationship breakdown.
"The biggest moving expense is furniture with renters spending around $880 to fit out their new rental. Removal companies were the second biggest expense ($200) and utilities’ connection fees the third ($195)."
Average weekly earnings
Full-time adult average weekly total earnings | Weekly | Monthly |
Ave national | $1,545.6 | $6,182.4 |
Ave Vic | $1,396.6 | $5,586.4 |
Ave NSW | $1,512.1 | $6,048.4 |
Ave QLD | $1,440.9 | $5,763.6 |
Ave WA | $1,691.2 | $6,764.8 |
Ave SA | $1,348.2 | $5,392.8 |
Moving cost and bond
Average Moving Cost | National | Sydney | Perth | Adelaide | Brisbane | |
End-of-lease cleaning | $188 | $149 | $175 | $151 | $244 | $161 |
Hire of van | $142 | $160 | $118 | $141 | $134 | $140 |
Removal company | $200 | $210 | $148 | $210 | $228 | $165 |
Transport for family | $80 | $38 | $88 | $81 | $78 | $47 |
Transport for pets | $20 | $6 | $19 | $13 | $15 | $15 |
Buying furniture for new property | $880 | $1,030 | $1,076 | $1,032 | $795 | $921 |
Connection fees (for example connection to phone, electricity or internet) | $195 | $195 | $218 | $235 | $173 | $203 |
Storage (for furniture or items not moving into the new property) | $84 | $76 | $50 | $53 | $67 | $70 |
Other | $91 | $96 | $44 | $69 | $74 | $73 |
TOTAL | $1,880 | $1,962 | $1,935 | $1,984 | $1,810 | $1,794 |
AVERAGE BOND | $1,522 | $1,816 | $1,768 | $1,670 | $1,578 | $1,514 |
MOVING COSTS+BOND | $3,402 | $3,778 | $3,703 | $3,653 | $3,388 | $3,308 |
**Excludes Darwin, Hobart and Canberra due to insufficient sample
Lost bond
NATIONAL | $1,083.64 | ||
VIC | $1,085.58 | $1,100.54 | |
NSW | $1,063.60 | Sydney | $1,180.76 |
QLD | $998.32 | Brisbane | $975.44 |
WA | $1,115.58 | Perth | $915.44 |
SA | $1,292.27 | Adelaide | $1,407.28 |
