Australia’s rentalvacancy rate has returned to a record low, and experts and advocates warn it will only make life harder for renters.
After a seasonal lift in vacancy rates over the busy end-of-year period, the rental market continued to deteriorate as demand skyrocketed, Powell said. The rise in demand was due to people taking up more housing following the pandemic and the return of international migration.The continuing crisis was leading to homelessness or tenants living in substandard housing, Renters and Housing Union media and communications officer Ellise Bourne said.
“When we’re talking about these extremely low vacancy rates, whether it’s 1 per cent or 0.8 per cent, these are all bad numbers to have. They are well below a well-functioning system,” Paterson Ross said. Powell said a lack of government action to increase housing supply or improve housing affordability had created the situation.
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