Rentals from $… to $$$,$$$,$$$
If you think the top end of Australia’s rental market is steep when you see some rents in harbour-side Sydney at over $40,000 a month – more than half a million dollars a year – then think again.
The Los Angeles mansion where The Godfather was filmed has hit the market with an asking rent of $600,000 a month or $7.2 million a year (that’s Australian dollars, by the way).
To be fair, we’re not exactly comparing apples with apples here. As lovely as they are, the Sydney homes seem tiny and ill-equipped when compared to Beverly House.
Set on 3.7 acres, Beverly House boasts 29 bedrooms and 40 bathrooms. Naturally, it has a pool, billiard room, tennis court, spa, gym, nightclub and wine cellar. For tenants who like entertaining, there’s a terrace that can host gatherings of up to 400 people.
On the other end of the scale, and back in Australia, there are towns where your weekly rent will sent you back less than the tenants of Beverly House probably spend on toilet paper.
Newborough, Victoria, had the nation’s lowest average weekly rent in January at $120, according to Core Logic, however a recent search of the listings reveals $105 a week was the very cheapest one-bedroom unit and $110 for two bedrooms.
You can rent even more cheaply in Queenstown, Tasmania, where the average rent was $150 – but a recent listing for a two-bedroom period cottage was a very modest $90 a week.