Read the grim rental advert that perfectly sums up Australia's cost of living crisis 

Renters are increasingly finding it harder to find a place of their own, with grim listings showing as many as three beds crammed into tiny bedrooms.

One particularly depressing advert offers a bed in a room shared with two other people for $270 a week.

The new trend comes just weeks after Phillip Lowe, governor of the Reserve Bank of Australia, told renters to move in with more people to bring the cost of rent down.

His comments came after the RBA increased interest rates for the 12th month in just over a year, putting pressure on rental prices.

One rental in Broadway, near Sydney’s CBD, advertises a room for $170 per week. 

One of the rentals in Broadway, near Sydney’s CBD, advertises a room for $170 per week (pictured) 

While being much lower than the standard asking price, three single beds and a single closet are jammed into the room.

‘Room of 3 available,’ the listing reads. 

‘$170 all included. One bed available now. 2 beds available on the 17th’. 

Another room for rent in Chippendale was advertised as a ‘male only’ shared room for $270 per week.

The listing features a wardrobe and ‘plenty of space in front of your room for storage as well’.

‘Looking for someone friendly, quiet and clean to occupy this room.’

Across two-thirds of Sydney, unit rents rose more than 10 per cent in the last year.

The rooms, while a particularly unattractive alternative, are a cheaper option for those struggling with higher rental prices and the cost-of-living crisis.

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Dr Lowe blamed the pandemic for fewer people living in Australian homes, leading to fewer homes available to rent driving up rental prices.

He suggested more Aussies should join share houses to help remedy the higher costs.

‘The population is increasing by two per cent this year, are there two per cent more houses? No,’ he said.

‘The higher prices do lead people to economise on housing, don’t they? Kids don’t move out of home because the rent is too expensive, or you decide to get a flatmate or a housemate,’ the governor said at the time.

‘We need more people on average to live in each dwelling and prices do that.’

Dr Lowe (pictured) blamed renters for not living the housemates and said people should move in with others to remedy skyrocketing rental prices 

Dr Lowe received criticism for the comments at the time, with Maiy Azize, who fronts Everybody’s Home, a national campaign to end Australia’s housing crisis said Low ‘doesn’t get it’.

‘Young people are living at home for longer than any other generation,’ she tweeted.

‘Working people are sharehousing into their 30s and 40s.

‘Many people on low incomes are stuck in overcrowded homes.

‘Lecturing people who are already the system’s losers won’t help.’

In a statement to Daily Mail Australia, the Tenants’ Union of NSW blasted Lowe for ‘missing the point’ of the housing crisis with his advice.

‘Like all advice that attempts to place the blame for the issues of the housing system on the people who are being harmed by those issues, this advice misses the point,’ Tenants’ Union CEO Leo Patterson Ross said.

‘Housing is an essential service, and accountability for its failings rests with government.

‘Through issues in our taxation, planning and regulatory systems we aren’t ensuring that people have good quality, safe and affordable homes.’