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Critical lack of rental properties must be addressed

May 3, 2022 Leave a Comment

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Recently, residential vacancy hit a 16-year low due to poor investor activity over the last five years. According to the Property Investment Professionals of Australia (PIPA), a non-profit association of industry practitioners, this critical lack of rental properties must be addressed with key policy by whoever wins the upcoming Federal Election.

Nicola McDougall of PIPA

Since 2017, the nationwide lending restrictions with fewer interest-only loans and higher interest rates prevented investors from purchasing. Nicola McDougall, PIPA chair, said while investors made a return to the market last year, the effect of their absence for years before that is still felt by tenants.

โ€œAt the same time, asking rents were mainly benign, so the combination of higher
mortgage costs together with flat-lining rents were also an impediment to the investor
market.”

CoreLogic analysis found that investors were slightly up from the record low (32.6% of mortgage demand by value in January 2022 from 22.9%), but still below the decade average.

Source: ABS lending indicators Jan 2022 and CoreLogic

As of February 2022, the national residential property rental vacancy rate fell to 1.2%. SQM research shows the rate to be less than 1% in Brisbane, Adelaide and Perth while asking rents there are increasing almost 13-to-20%. Available rental properties plunged in the Melbourne and Sydney CBDs as well, but capital city asking rents have soared 9.4% over the year to March.

PIPA say political parties must develop a significant and sustainable policy to remedy this in the vein of the National Rental Affordability Scheme which was unfortunately scrapped after only a few years. A system that encourages private and public sectors to work collaboratively together will increase rental supply and improve affordability for tenants.

โ€œWith overseas migration set to soar over coming years, where are these new Aussies going to live if we donโ€™t even have enough rental properties to house our current population?โ€ asks Nicola.

For more PIPA

How to buy 12 properties by the age of 32: PK Gupta shares tips
PK Gupta, a second generation immigrant, shares how he acquired 12 properties worth $8million by the age of 32 and…

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When interior designer @sarah_yarrow was renovatin When interior designer @sarah_yarrow was renovating her 50s home to sell she was determined to move away from the cookie cutter flip to sell look and went for something warmer, paying homage to its roots.

"People are much more likely to connect with something that feels warm and friendly and that doesnโ€™t feel like the home up the street, or the one that their friend has just bought. And once they connect, they usually pay more,โ€ she said. Sarah believes people usually crave a homely feel but donโ€™t know how to create it themselves

See the whole home before and after on the homepage now via link in bio.

Pic: @the.palm.co 

#beforeandafterrenovation #beforeandafterremodel #homelyhome #vjwalls #wallpaneling #bedheads #headboards #bedroomlighting #modernfarmhousedesign
This is the pits. Geddit?! ๐Ÿ˜† This is the pits. Geddit?! ๐Ÿ˜†
This family home is next level. Literally! A stee This family home is next level. Literally!

A steeply sloping block isn't a typical prerequisite when building a new home. But it was for Perth architect Sam Klopper and his family who desired an elevated balcony (hello roof terrace!) AND a back yard that was accessed from the living area. And wow, they sure made the best of it!

Take the tour on the homepage now. Via link in bio.

#roofterrace #roofgardens #slopingblock #architectshome #perthhome #wahomes 

Project: @klopper_davis_architects
Photos by @dionrobeson
Before & after goodness alert โš ๏ธ Head on ove Before & after goodness alert โš ๏ธ 

Head on over to the blog this morning to meet serial flippers @renowayoflife Back in Australia after more than a decade renovating for profit and living debt and mortgage free in the UK and USA, they're onto their 15th house, a Queenslander, and this one they plan to actually keep and live in with their 3 kids!

It's an inspiring tale and we're sharing before and afters of 3 of their previous projects. Looking forward to sharing the progress of their current house in the coming weeks and months too ๐Ÿค—

Via link in bio๐Ÿ’›

#queenslanderrenovation #houseflippers #serialrenovator #renowayoflife #queenslanderhome
How's that for a pool?! This Noosa riverfront ab How's that for a pool?! 

This Noosa riverfront abode just won Home of the Year in the 2022 HIA-CSR Australian Housing Awards. 

Take the tour and find out why. On the homepage now via linknin bio.

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@jwconstructions @shaunlockyer @christopherfrederickjones
(WIN!) It's not the weather to have damp washing e (WIN!) It's not the weather to have damp washing everywhere!

Let's make your life easier with this amazing laundry prize from @hillshomeliving 

One lucky winner will get a bamboo concertina, a bamboo sorting centre and 3 bamboo foldable baskets worth almost $250.

For your chance of winning follow us and @hillshomeliving and tag a friend below by midnight Sydney time next Friday 27 May. One entry per person.

The concertina and sorting centre are available at Big W and the baskets at Bunnings.

Open to Australian residents only. Not affiliated with or endorsed by Instagram.

#laundryinspo #laundryideas #laundryday
We've entered an exciting phase in our home: non-s We've entered an exciting phase in our home: non-synthetic rug land!

With two young boys, I've always advocated for the synthetic and easily scrub-cleanable rug! Now they'reย a bit older and observing the shoes-off and no-food-in-the-living-room rules, I thought it was time! And I'm in love with our bold newย @castleryau Lorenzo Wool Rug.

You can't beat the luxurious look and feel of wool and I've also stepped outside my comfort zone with a design that stands out rather than blends in. Get me!

Can someone remind the kids about the keep-the-toys-in-the-playroom rule though?!

Would you be brave enough to go for a cream wool rug in your house?!

This rug is on display at Castlery's popup at Moore Park SupaCenta until October. 

#athomewithcastlery #rug #interiorsaddictfamilyhomereno #statementrugย #gifted
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Khandoker Taseen

About Khandoker Taseen

Khandoker Taseen is interning at Interiors Addict in 2022 as part of her studies at the University of New South Wales.

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