[Jan Fisher]

The amount of affordable rentals across Australia has more than halved to 15 per cent across most Australian capital cities.

Currently, rental of $400 a week is considered affordable according a report by property data provider PropTrack.

Melbourne fell from 43.5 per cent to 20 per cent of affordable properties, but the ACT fell from 6 per cent to 1.9 per cent of affordable properties.

Report author Cameron Kusher said it will get worse before it gets better as landlords attempt to improve their returns as interest rates rise.

It’s been speculated the figures might even be worse as the data is based on advertised prices and many potential renters are forced into a bidding war to secure a property over the advertised price.

Kusher’s answer to the problem? “More rental stock, ASAP.”

But with the cost of building materials, is that even possible?
Have you experienced problems finding a rental property How would you solve the rental crisis?

[David Watherston]

It is pretty damn simple. Penalise those “home owners” who own properties but choose to keep them empty for whatever reason. Driving around Melbourne you will find many homes that are probably owned by foreign nationals that are “land banking”, do no maintenance for many years, then do a refit & clean-up to sell.

[Author]

Posts