The rental situation is getting worse across the country driven by the pandemic-induced shrinkage in average household size as people demanded more space. This has effectively reduced the number of homes available to rent.
Plus many investors are lifting rentals to try to turn unprofitable investments positive (especially as capital gains on many apartments remains a pipe-dream).
CoreLogic reported that rents across Australia continue to explode, surging by 8.7% nationally and by 10.7% across the combined regions in the year to March 2022.
With rental growth (2.6%) outperforming value growth (2.4%) over the three months to March, national dwelling yields have recorded a one basis point rise since December (3.22%) and two basis points since reaching a new record low of 3.21% in January and February. Despite the recent rise, national rental yields are still 32 basis points below the yield recorded this time last year (3.55%).
But BTR is another fake ‘affordability’ policy as a new report in The AFR suggests recent Australian BTR projects charging a 20% premium on traditional rentals.
Its frankly a mess, with long standing consequences for households across the country. Its shameful.
Go to the Walk The World Universe at https://walktheworld.com.au/
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