Rental ad highlights grim reality of Sydney's housing crisis

The harsh reality of Sydney's housing crisis has once again been laid bare with a rental listing offering two mattresses crammed on one bedroom floor at $250 each, per week.

The advert was posted to a Facebook group for international students this week and asks for "flatmates" to fill a second room in a unit complex at Sydney's Olympic Park.

Listing pictures show two single mattresses lying on the floor of the bedroom only separated by a partition, and features one desk and a built-in wardrobe.

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Do you have a story from Australia's rental crisis to share? Contact reporter Miriah Davis at miriah.davis@nine.com.au

"We are looking for flatmates to fill in second room. There are 2 beds available. $250 per person," the ad reads.

On top of that, the listing asks for a two week bond payment and two weeks rent.

However, the advert boasts the complex comes with extra amenities such as an indoor and outdoor pool, gym, spa and sauna.

The rental median price for a two-bedroom unit in Sydney Olympic park sits at $750 per week, while a three-bedder can go for $1000, according to Domain.com.au.

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CoreLogic's Rent Value Index revealed over the last three years National rental prices have surged by 30 per cent since July 2020, adding $137 weekly median rent.

Renters are also battling a decrease in rental availability with the national vacancy rate dipping to a record low of 1.1 per cent in September.

Sydney and Melbourne have been hit hardest with vacancies rates more than halving, from 2.2 per cent and 4.14 percentage points respectively since September 2021.