Latest News
The places property rents could rise by $100 a week in 12 months
over 2 years ago
The places property rents could rise by $100 a week in 12 months
Share

https://www.9news.com.au/national/rental-crisis-where-rents-will-rise-by-thousands-in-australia/06ed1b71-8a02-4d7b-bd50-36a7cb4d9811

This information has been taken from this excerpt.

The 20 areas around the country facing that highest-level rental growth include Brisbane, Adelaide, Perth, Hobart, Canberra, Devonport, Burnie-Ulverstone, Nerang, Bundaberg, Maryborough, Buderim, Toowoomba, Queanbeyan, Lake Macquarie - East, Kiama-Shellharbour, Wagga Wagga, Barossa, Yorke Peninsula, Warrnambool, and Shepparton.

Bundaberg is one of those areas.

"A rental crisis is often defined by vacancy rates at one per cent or lower, so it's concerning to see this continuing to worsen," InvestorKit founder and head of research Arjun Paliwal said.

We're currently at 0.7 per cent – 41 per cent lower than 12 months ago when we were at 1.2 per cent.

"Most of the 20 regions chosen in our report have vacancy rates lower than the national average, and the majority are even lower than 0.3 per cent."

Paliwal said there were multiple factors contributing to the increasing demand for a limited supply of properties.

More people were seeking stand-alone homes due to the trend towards working from home, while higher housing prices were forcing more people to stay as renters for longer.

Paliwal also pointed to more Generation Y Australians moving out of family homes, growing regional populations, and a drop in property investor activity.

If you would like to know more about our properties we have for rent here in Bundaberg, please contact our Property Management Team at First National Real Estate Bundaberg.