Joker, the problem is there is no shortage of rental properties. There is a glut made all the worse by a tsunami of unsold properties on the market and continue to pile up.
The likes of HIA, APM, BIS and the usual suspects have glutched all the straws there are left and resorted to the rental shortage BS to stem the listing flood and encourage landlord not to list. At the same time, they hope there are fools who would take the bait of taking on massive debt on high interest rates just to get 2% in rental yield (after cost).
In fact, many agents have for many months refused to listed their client's stale properties on real;-esate.com.au across the country. Many properties have been on the market for more than a year. Some have been for more than 18 months !
Because there is no rental shortage (real vaccancy rates are much higher than the REI fudge factory nonsense), landlords will actually discount to keep their tennants to stay.
Given rates is going through the roof, every additional week of an investment property being empty means another step towards financial destruction.
It will be a race to the bottom to CUT rent.
Trust me. Matty has modelled the whole thing long ago.
