The state of Australia’s rental market is concerning, with no signs of relief in sight. Advertised rents have surged while vacancies have hit historic lows, all due to a scarcity of rental properties. Over the past year, the demand has shifted from regional areas to the capital cities, particularly the unit market, as overseas migration…
In its Rent Report for the March quarter, Domain has emphasized that the rental market in Australia still heavily favours landlords, as tenants face challenging conditions due to increasing demand and limited supply in 2023. Dr Nicola Powell, Domain’s Chief of Research and Economics said: “Across the combined capitals, we’re now seeing the longest stretch…
The rental markets across the country continue to be tight, with a high demand for rentals that surpasses the available supply. Consequently, there is an upward trend in weekly rents, and vacancy rates are declining. The pandemic has exacerbated this situation, with vacancy rates plummeting by 50%, highlighting the severity of the conditions in most…
Over the past few years, Australians have been experiencing extreme rental stress as rents continue to skyrocket, especially in major cities like Sydney and Melbourne, placing immense pressure on low to middle-income earners. Single-parent families, low-wage workers, and older Australians on fixed incomes are particularly vulnerable to this issue. As the cost of living rises,…
The rental market has undergone significant changes in recent years, and with a new year comes the question of what’s ahead for renters in 2023. Well, the latest data released by the Australian Bureau of Statistics showed overseas and student arrivals continue to rebound, pointing to ongoing increasing rental demand in the capital cities. Ms…
The COVID-19 pandemic changed the way we work, the way we live, how we interact with others, and also how we feel about our furry friends. One-third of pet owners added a new pet to their family in the last two years (33%), a decision which was mostly driven by extended lockdowns and dealing with…
As a property investor, one of the toughest decisions you’ll face is choosing the right professionals to manage your property. Their role is an important one. They’ll be in charge of advertising, conducting inspections, vetting potential tenants and organising maintenance – not to mention ensuring rent is paid in full and on time – so…
As the rental market gets tighter in many areas, renters start to wonder what it takes to get the keys in their hands and their foot in the door. Rent bidding has become a popular road for many people desperate to get into a property. But what exactly is rent bidding and is it even…
Australia’s rental crisis may be in full swing, but there are some suburbs where as many as two-thirds of the properties are sitting empty. Holiday homes were hot property during the pandemic, fuelled by an inability to travel internationally, high savings rates and very low mortgage rates. But now the sea- and tree-change shift which…
Flash flooding and storms have ravaged Australia’s east coast over the past 12 months, and the Bureau of Meteorology (BoM) predicts we can expect the extreme wet weather to continue during the coming months as La Niña returns for what will be the third summer in a row. It’s worrying news for property owners. Because…
