Australia has entered into a deep rental crisis, with tenants facing increasing competition for the diminishing pool of available rental homes, driving up rents by almost 12 percent across capital cities in the last 12 months at an accelerating rate. SQM Research revealed the national vacancy rate fell to one percent in March, the lowest…
Australian Rental Crisis Worsens, National Vacancy Rate at Lowest Level Since 2006
April 15, 2022
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Rental Crisis Emerges in Australia
The unprecedented flooding situation in Queensland and New South Wales could exacerbate the rental market across the country, which has reached its tightest point in 16 years and create more pressure on inflation. Australia’s national rental vacancy rates fell to a new 16-year low to 1.2 percent in February, down from 1.3 percent in January,…
Rental Crisis Emerges in Australia: Research Group
The unprecedented flooding situation in Queensland and New South Wales could exacerbate the rental market across the country, which has reached its tightest point in 16 years and create more pressure on inflation. Australia’s national rental vacancy rates fell to a new 16-year low to 1.2 percent in February, down from 1.3 percent in January,…
Brisbane Flooding Will Hit Property Prices but Difficult to Predict Long-Term: Experts
March 6, 2022
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House prices in flood affected areas of Brisbane will take a short-term hit, but it was difficult to predict how the market would behave in the medium to long-term. Antonia Mercorella, the Real Estate Institute of Queensland (REIQ) CEO, told The Epoch Times that while property prices would take an immediate hit, it was unlikely…
Australian Rental Vacancies Reach 16-year Low as Market Heats up
February 15, 2022
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The residential rental vacancy rate across Australia has fallen to a 16-year low as the country looks forward to the reopening of its international borders for tourists after two years of isolation. SQM Research revealed rental vacancy rates fell sharply to 1.3 percent in January, a drop of 0.3 percent from December and 0.7 percent…
Australian Property Values Ended the Year 22 Percent Higher but Subdued Conditions Expected in 2022
January 6, 2022
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The Australian property market grew 22.1 percent during 2021 on the back of low interest rates but ended the year on a subdued note CoreLogic revealed, with the national median house value in December only rising one percent, down from 1.3 percent in November. It reflects the cooling market as the monthly growth rate had continued…
Australia Experiencing a Housing Crisis, Needs Social Housing Fund: Think Tank
November 29, 2021
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The Grattan Institute has said in their latest report that Australia is experiencing a housing crisis, where citizens are now spending a greater proportion of their income on housing than in the past. The think tank called on the federal government to create a Social Housing Future Fund to finance new social housing stock, which…
Essential Workforce Hit by Rental Affordability Crisis
August 2, 2021
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Essential care and service workers are facing a rental crisis in Australia as an analysis found that rent has risen to over one-third of workers’ weekly income in a majority of the country’s geographical regions. Affordable housing campaign group, Everybody’s Home, cross-referenced SQM Research rent data with the basic hourly wage of workers in disability…
Australian Rents Rise at Fastest Rate in 15 Years
The Australian rental market has risen at the fastest pace since May 2007, with the national rental rate up 3.2 percent over the first quarter of this year, property researcher CoreLogic found. However, Corelogic’s research director Tim Lawless said the growth was uneven, and the “headline reading hides the sheer diversity” of market conditions around…
Inner City Living Falling Out Of Fashion Thanks to CCP Virus Pandemic
The popularity of inner-city living is declining amidst the CCP Virus pandemic alleges a new report from real estate advisory Corelogic. According to the report apartment rents in Sydney and Melbourne plunged by 5.7 percent and 7.6 percent respectively last year as COVID-19 lockdowns and border restrictions dried up the stream of tourists and overseas students…
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