The Real Estate Institute of Victoria is seeing growing evidence that commercial and residential landlords are being left behind and all but forgotten as the government makes decisions on financial support for people impacted by the economic downturn. The decision to extend the rental moratorium to 31 December 2020 without proportionate attention to the landlord’s…
The Victorian Government is extending eviction moratorium laws to provide greater certainty for both tenants and landlords. Rental increases are also banned until the end of the year. Victoria’s ban on rental hikes and evictions which had previously been set to expire on 29 September will be extended until 31 December. Extension of these laws…
Despite house prices remaining resilient, we know our rental markets have taken a beating due to Covid-19. Realestate.com.au reports that for the first time on record the cost of renting in Australia has fallen. The results are a clear indicator of how COVID-19 has changed the dynamic of the property market. Over the June quarter…
One of the most impacted sectors of our housing market amidst COVID-19 has been the rental markets. The latest ANZ-Core Logic Housing Affordability report shows that the rental market has been more heavily affected than the buyers’ market in the current crisis, with a combination of falling demand and rising supply. However, Australia does not…
The rental markets across Australia have been widely impacted by the Coronavirus pandemic . In the current crisis, the rental market has been more heavily affected than the buyers’ market, with a combination of falling demand and rising supply. However, as with property values and transactions, Australia does not have a ‘single’ rental market. Australia…
The Victorian Government has introduced rent relief grants for eligible tenants experiencing rental hardship as a result of the coronavirus (COVID-19) pandemic. The problem is, most tenants and landlords don’t really understand what this involves, so let’s have a look at some of the key aspects provided by the government. In this article I’ll explain…
For Australians, the dream of owning a home is so entrenched that we practically begin daydreaming as soon as we can walk. From family trips to Bunnings to tackle a home reno, to Saturday’s spent wandering through open homes with mum and dad, we’re introduced to the concept of owning a home and making it…
Australia’s economy has all but ground to a halt since the coronavirus lockdown, leaving thousands across the country without an income. A key fallout of the economic crisis was the sudden destabilisation of the living situations of many Australians meaning the majority of renters in Australia are finding it harder to pay the rent due…
The road ahead for our economy and our property markets has never been less clear. Whilst I can’t make any predictions with real confidence about how property markets will perform next month, let alone next year, based on my perspective of having been involved in the property markets for over 20 years, I believe the…
We all know that COVID-19 is it going to plunge Australia into recession,. We also know this will negatively affect our property markets, and while a lot has been written about what falling into recession will do to property values, have you wondered what it will do to the rental markets? Recently property valuers and…
