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Hi MS A couple of points Rents are high due to government policy...

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01/03/24

18:42

Post #: 72703321
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Originally posted by MasterStrategist ↑

Word on the street from Melbourne RE agents is that landlords are fleeing the residential market in droves due to punitive taxes and tenancy laws. And while this may help buyers to some degree it will only serve to exacerbate the already severe lack of rental accommodation - causing rents to climb even higher.
That said, it's not much better in the other States with the National residential rental vacancy factor hovering at less than 1%. That poses a problem for the government; a threat that may impact poles and voting, which could lead to government intervention, good and bad. The reality is that being a landlord in this day and age is a tough gig with a poor return and high risk when there's better, less stressful returns in simple, bank term deposits (there being little capital gain ahead in the near future). And what better time to sell that rental property in the current bubble.

A perfect storm for renters.

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Hi MS
A couple of points
Rents are high due to government policy and actions
Our rental laws are archaic and a dogs breakfast, again government policy

re:- being a landlord in this day and age is a tough gig with a poor return and high risk

Any of those landlords who purchased their properties over ten years ago are laughing their heads off on the way to the bank
A neighbor purchased his investment house 1985 for $61k and gets $530 per wk

Prices and rents have gone up at such a fast rate we should have had a response from the government with some sort of rent control
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