Australia is in the middle of a rental crisis.
But interestingly, in the month of July, asking rents for houses didn’t increase.
Is the end of the rental increase after the spectacular rent increases of the last year or so?
Far from it, and in today’s podcast Dr Andrew Wilson and I discuss some interesting unintended consequences that are going to occur from the various governments’ interference in our housing markets that will affect our rental markets.
Highlights of my chat with Dr Andrew Wilson
Australia’s in the middle of a rental crisis with no relief in sight for tenants.
The news is full of tenants being forced into secondary accommodations or even public housing, so I’m keen to hear the details of today’s rental report from Dr Andrew Wilson.
- The data shows that asking prices were basically flat in July.
- We’re heading toward a position where tenants can’t afford to pay anymore.
- The rents will rise because tenants will be asking for higher wages to pay higher rents.
- This will fuel inflation.
- Apartments are filling up.
- The apartment boom is gone now, however.
- The governments have left the supply side of rentals to private investors.
- State governments are now making renting more onerous for investors.
- More than 60% of investors plan to sell if proposed changes are adapted
- Less supply will push rents up even higher.
- More housing needs to be built.
Links and Resources:
Subscribe to our weekly Property Insiders videos – www.PropertyInsiders.info
Get your bundle of eBooks and reports at www.PodcastBonus.com.au
Some of our favourite quotes from the show:
“So, the rental crisis really is affected by supply and demand.” – Michael Yardney
“It’s been forgotten that most investment properties are not owned by rich moguls. We know that Mom and Dad investors, who only own one or two properties, account for more than 90% of all rental providers.” – Michael Yardney
“I believe property investors who have a long-term perspective are going to see through this.” – Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
Subscribe & don’t miss a single episode of Michael Yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to Michael Yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.