Key takeaways
Rental price growth has hit record highs, and there is now growing concern that the supply of rental homes could get even worse as higher mortgage costs hit landlords and government interference makes property investment less attractive.
The current national vacancy rate sits at just 1.1%.
One of the reasons for the lack of rental properties is because there are fewer investors buying property and the number of investors selling up has trended upwards.
According to the latest Australian Bureau of Statistics (ABS) data, there are nearly 10 million households in Australia, of which 66-67% are owner-occupiers. However,…
House sharing is on the rise across the country, as the affordability crisis drives many towards sharing a home or welcoming a house mate amid the rising cost-of-living.
More than 210,000 people sought out share homes or potential house mates on share accommodation platform Flatmates in January, marking its busiest month on record. It was 6% higher than the previous record in January last year.
The surge in house sharing activity comes as rents climbed ever higher last year while homes were available to rent at historically low levels.
Flatmates community manager Claudia Conley said January was the busiest month…
News Corp Australia Network
A real estate expert has predicted Townsville property prices will soar in coming years. Picture: Supplied
Townsville is tipped to lead property price growth across the country as local, relocating and investor buyers compete for a dwindling supply of homes in the NQ capital.
Craig Stack, Knight Frank senior partner Townsville and Mackay said he predicted Townsville would soon see one of the highest price growths in the Australian property market.
“Continuing strong demand for the low supply of existing housing in Townsville will lead to price growth, and we think the median sale price for…
“The lack of affordable and suitable rental options when living alone is likely to be implicated in these complex housing dynamics over time, contributing to a more enduring structural change of who can afford to rent independently without a second income to rely on,” the report said.
Low-income earners could only afford to pay $225 per week in rent, study author and Swinburne University of Technology researcher in urban and regional planning Margaret Reynolds estimated, and it was impossible to find rental properties for that price, especially in Sydney and Melbourne.
Rents have jumped since the research period. Sydney’s median…
Property investors returned to the market in a big way in 2023 as rising property prices and tightening rental vacancy rates lured investors back.
Despite a 1.3% decline in the value of new investor loans during December, over the year investor lending surged 20.4% to sit at the highest level since August 2021.
By comparison, owner occupier lending fell 5.6% during the month, sitting 7.4% higher compared to a year earlier, according to the latest lending data from the Australian Bureau of Statistics.
ABS head of finance statistics Mish Tan said investors now accounted for more than one third of…
Demand for share houses has boomed as home seekers continue to struggle with Sydney’s ongoing housing challenges.
New data released Wednesday by flatmates.com.au, a website where members list and search for vacant rooms, revealed they had over 1 million page visits in January alone.
There was a huge jump in member sign ups in January, with 67,700 new members joining the platform in the past month, which was a 22 per cent increase month on month.
Amid the ongoing cost-of-living crisis and increasingly tight rental market, demand for share house living has skyrocketed.
Share housing is on the rise as…
Jessica Brown
Updated Feb 8, 2024, 10:09am
First published 8 Feb 2024, 9:30am
News Corp Australia Network
Adelaide and regional SA’s vacancy rates eased in January, new data reveals, but both rental markets are still tight. Picture: supplied.
Adelaide’s rental market remains one of the tightest in the country despite its vacancy rate once again easing slightly over the past month.
New PropTrack data shows the city’s vacancy rate, which measures the percentage of rental properties that are empty and available for lease, is now 0.78 per cent after easing 0.09 percentage points in January.
Adelaide now has the second…
Nine out of the 100 properties had visible mold in the study, while 39 agents were unable to provide a history of if the rental ever had mold.
Victorian families searching for affordable homes to rent are facing dud prospects that in many cases are failing to meet legal standards for rentals.
New research by Tenants Victoria and the Consumer Policy Research Center shows at least 15 per cent of rentals assessed breached the Residential Tenancies Act years after it was updated in 2021.
RELATED: Singles pushed out of rent market, pending social housing waitlist
Victoria at the heart of…