Landlords looking for return on investment, rising interest prices and more people looking for rentals is putting the squeeze on the already tight rental market.
abc.net.au/news/qeensland-rent-rises-tight-rental-market-pushing-prices-/101826828Erin Blyth and Zackary Keleher will pay $154 more in rent every week this year compared to when they began renting their unit in Kallangur, north of Brisbane, just over a year ago.
"The first day we came in and I cried on the floor because I was like, 'Three months of searching and we finally got something'," Mr Keleher said.Erin Blyth and Zackary Keleher say they would rather face rent rises than find a new home. "It's just going to take us forever to find another place. So, we'd rather suck up the rent increase if that means that we get to stay where we are comfortable," Ms Blyth said.The Real Estate Institute of Queensland expects many tenants to follow the same logic when their contracts wind up this summer.
"Many property owners who have purchased that property over the course of the last few years, they would have paid a premium for it. So again, they're looking for that return on investment."Veteran property researcher and landlord Terry Ryder said renters in Queensland faced a "really tough" market. Sam Galer, Principal Project Officer at the Residential Tenancies Authority, Queensland's rental regulator. January 4, 2023.
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