Sell with Confidence
Read More
News

Cush for Comment – Why changes to rental laws are not helping the housing crisis

By Ashleigh Leavitt

With all the chatter from property people, me included, about a housing crisis, you would have thought August would have been busier than a Parisian tattoo parlour after the closing ceremony. But it isn’t.
It seems there is a change in the air. We have seen property inspection numbers at rentals begin to decrease in many price sectors, with the high-end market the only one to upswing.
The previously super hot sub-$500 per week market is still chock-a-block with prospective tenants but finding one for them to rent is nearly impossible.
Largely because the properties that used to be under $500 per week are now asking for much, much more. One of the accidental drivers is a big change from the government intended to protect tenants, but it seems it could be having an adverse effect.
The enforced new change fixes the weekly rental price for a property for a 12 month period.
This applies even if the tenancy changes or is a shorter lease and yes, even if they renovate!
The trend we are seeing emerge now is owners increasing their rent significantly when the 12 months ticks over if the property becomes vacant.
Their common language is, ‘We can always come down, but if I can’t review the rent for 12 months then let’s put it up high and see how we go’.
The effect is properties are sitting idle which isn’t helping the situation and if the tenants keep moving up to secure a property then that crystallizes the new market price.

Up to Date

Latest News

  • The Benefits of Renovating Your Home During the Festive Season

    Originally posted on periodextensions.com.au The festive season isn’t just about celebrations; it’s also the perfect time to consider a house renovation in Melbourne. With family gatherings and holiday cheer filling the air, this time of year inspires transformation. But have you thought about how upgrading your home during the holidays … Read more

    Read Full Post

  • Cush for Comment – November 30th 2024

    Today I will wake up like a kid on Christmas morning. It’s prestige auction day! We are hosting our fourth annual ‘Ray White Collective’ prestige property auction event at The Callie Hotel. I can’t wait to get out the front and swing the gavel in front of Brisbane’s super high-end … Read more

    Read Full Post