WHAT ' S NEWS IN THE RENTAL MARKET SPACE ? OUR EXPERTS WEIGH IN .
to recover from this now . A cap on rent increases may deter investors and perhaps even encourage more to sell out from their investment .
Australia is currently experiencing a housing shortage as a result of slowed planning and construction during the pandemic . We are well behind on this front and I suggest that this is the root of the crisis . Could we consider more public housing to ease the burden on the general public to pay tax and provide an increase in public and key worker housing ?
Public housing has been in decline since the 1970s . Government funded rent assistance has improved but a housing shortage remains and those requiring public housing are still struggling to keep up with the rising cost of rent .
IS RISING RENT THE REAL CRISIS ?
There are several attempts by past governments to reverse this trend but the fact of the matter is that Australia has continued to lose public housing each year and the growth in demand for public housing increases each year .
BY EMILY SIM , Ray White Property Management CEO
The property management industry is currently battling through a third wave of afterglow following major tenancy reforms , emergency and temporary tenancy legislation and an exodus of property managers from the industry citing burn-out .
The Greens have stolen the headlines with an outlandish stab in the dark demanding rents be capped , future increases stalled and in the fine print , demands for the removal of termination options for landlords - country-wide .
A quick recap on how the states worked together during the pandemic for the moratorium on evictions : they didn ’ t .
I ’ m not sure who the Greens think they can transfer the rising cost of living to . Property investors by and large are the parents of Australia , that ’ s the way our economy and tax system is structured . Own property , receive tax relief . Hence the commonly-used term ‘ mum and dad investors .’
Queensland is about to undertake major tenancy reform including minimum housing standards ; Victoria is just starting
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