A young, and apparently quite successful, Australian social media maven has revealed that she is, like thousands of young adults across the continent, moving in with relatives.
25 year-old Ella Victoria has accrued more than seventy thousand Instagram followers, and three million likes on TikTok, has decided to move into the home of her in-laws in order to provide some financial headroom so that she and her fiancee can build up savings for their future.
Before the move, Victoria lived with her fiancee in a 2-bedroom Sydney apartment, which cost the couple $650 per week. The couple received a notification that their rent would be increasing by a hundred dollars per week when their lease came up for renewal. Victoria explained to her followers that while she and her fiancee could make do with the rent increase, they decided it would be wiser to go a different direction.
The couple has some major expenses lined up over the next year. They are building a duplex for an investment property—which they intend to use to help them buy their family home—and they are due to have their wedding before long. If they continued renting, along with installment payments for the wedding and interest payments on the building loan, Victoria said, the couple would be living on the edge, which is not a responsible thing to do in her view.
Being an influencer, Victoria says, puts her in a wonderful position for many things, but it does not generate a steady income, therefore she can’t be taking outsized financial risks.
Victoria and her fiancee are not alone. Rental prices have been rising quickly all over Down Under, being up at least thirty percent since 2019. As a result, a lot of young adults are being priced out of the market. The influencer couple is just part of the rising tide of twenty-somethings who are moving back into their parents’ homes.
