Krissy tried to negotiate her rent increase lower, then the agent asked for more money lolita, 06/08/2025 Tenants have the option to fight an excessive rental increase in the NSW Civil and Administrative Tribunal. NSW Tenants’ Union chief executive Leo Patterson Ross said very few did so as the process was not conducive to renters in need of a quick resolution. Loading Several economists have warned rent caps would stymie the development of new rental properties, but Patterson Ross has urged a more nuanced debate. He said legislation against excessive rent increases, similar to the ACT where rents are capped at the rate of inflation for Canberra rentals, plus 10 per cent, could be one part of a broader strategy of ongoing construction to increase supply and address the chronic shortage of housing in NSW. Patterson Ross said waiting for supply to increase, a long-term solution, wouldn’t help renters like Kristina today. He urged better regulation around housing, similar to water and electricity, viewing it as an essential service, not an investment. NSW rental commissioner Trina Jones said: “There are already rules in place to prevent ‘excessive’ rent increases through the NSW Civil and Administrative Tribunal, considering factors such as average prices, location or the type of property. In the case of a 50 per rent increase, … Continue Reading
The suburbs where rentals are as rare as hen’s teeth – and where renters actually have options lolita, 02/08/2025 Only a tiny fraction of properties are available for rent in some popular Australian suburbs, with strong competition between tenants making it extremely difficult to find a home. High demand for a limited number of properties has put further pressure on rental prices in these suburbs, exacerbating the rental crisis as tenants fork out more money to find somewhere to live. But there are signs conditions may be easing in many parts of the country, with higher vacancies in some regional areas and suburbs on the fringes of the capital. While sought-after inner cities and coastal suburbs are among Australia’s tightest rental markets, conditions have eased in other areas, according to the latest PropTrack data, giving renters more options in a challenging market. Lingering effects of the pandemic have caused extreme tightness in many popular rental markets, especially in the inner suburbs of the capital, according to PropTrack senior economist Eleanor Creagh. “Since 2021, rental market conditions have tightened considerably in inner city suburbs that were hit hardest by the pandemic, spurred by smaller households, cities springing back to life and the surge in net migration and student arrivals,” he said. “This is particularly the case in Sydney, Melbourne and … Continue Reading
Tenants’ Union of NSW lodges complaint about Gumtree as rent bidding remains open lolita, 30/07/2025 Online marketplace Gumtree says it will change its rental property ads after the Tenants’ Union of NSW accused it of breaching the state’s anti-rent bidding laws. Rent bidding is when prospective tenants offer more than the advertised price to secure a place to live. It has been illegal for real estate agents to solicit or encourage bids in NSW since December 2022. The NSW government extended the laws to cover landlords and third-party platforms such as Gumtree and Snug in August last year. The Tenants’ Union of NSW says rent bidding continues.(ABC News: Nick Sas) Tenants’ Union of NSW chief executive Leo Patterson Ross told ABC Radio Sydney his organisation lodged a complaint in August with Fair Trading NSW about Gumtree’s “make an offer” function which appears alongside all ads, including its real estate section. “They’re … Continue Reading
The suburbs where negative gearing is going through the roof lolita, 06/07/2025 Tim Lawless, executive research director of Asia-Pacific of CoreLogic, says the figures come as a shock to many people, particularly when investors are highly leveraged. If they’re closer to debt-free, they wouldn’t be so badly impacted. Mortgage costs have risen faster than rents.Credits: Rhett Wyman “But if you have a $500,000 mortgage on a variable rate, then your repayments will have gone up by just over $1000 a month since April 2022 before the first of the rate rises,” he said. “If you’re in a really expensive market, with a 20 per cent deposit, you might be paying $1,500 a week more, although if you’re buying there you might have more equity so, theoretically, you won’t be as highly leveraged. But if you are buying in those markets, repayments are extraordinarily high. “Then again, property values have gone up substantially too, an average of $218,000 more, or 24 per cent, since the start of the pandemic.” Loading Even in some more affordable areas of Sydney, investors are out of pocket. In Canterbury-Bankstown, for example, rents have gone up by $177, while repayments rose $581. In Parramatta, rents have gone up $150, and payments have gone up by $394. “Rents, … Continue Reading
Should you buy or rent property in 2024? lolita, 05/07/2025 When Satyen Joshi moved to Mumbai from Bengaluru five years back, little did he know that he would have to pay more than ₹50,000 per month as rent. He is now contemplating buying a property in the suburbs for around ₹2 crores. He has taken this decision at age 40 because he has the funds to pay up and may not have to take a huge loan for the property. A homebuyer should go ahead and purchase a property if he has funds available to make a sizeable down payment. (Pixabay) Despite an increase in home loan interest rates and rising housing prices, the overall sentiment in the domestic residential market remains positive on the back of robust demand with as many as 2.6 lakh housing units expected to be sold by the end of 2023, the highest number since 2008. The growth momentum is likely to continue in 2024 with sales likely to touch around 3 lakh units, a report by JLL’2023: A Year in Review’ had said. Also Read: Year Ender 2023: Housing sales likely to touch 2.6 lakh units by end of 2023; Luxury housing sales rise by 83% The report also notes that the … Continue Reading
Revealed: The Hottest Rental Markets in NZ lolita, 04/07/2025 It’s unsurprising the Hawke’s Bay rental market is hot; Cyclone Gabrielle upended households across the region. Homeowners and tenants have had to move out of their homes and, in the meantime, need somewhere to live, so rental demand has risen. But the cyclone has also decreased supply. Some properties are so damaged they can’t be rented any longer. That’s why it takes less than 2 weeks for the average landlord to find a tenant. At the other end of the spectrum, properties in Thames-Coromandel took the longest to rent. The median Trade Me rental listing was live for 32 days. That’s 21.5 days longer than in Wairoa. So, the average Thames-Coromandel investor might get up to 3 weeks less rent than the average Wairoa investor. That difference matters. Interest rates are high and many investors are struggling with high mortgage payments. The second hottest rental market is the Queenstown-Lakes District. Rental listings there also don’t last 2 weeks on Trade Me. The median property comes down after only 13.5 days. Property managers there tell me the ski season tempted property owners to convert their rentals into Airbnbs. This decreased supply of long-term rental properties, just as the town got busier.… Continue Reading
Median Gold Coast rental prices soar to $850 a week for a house, $680 a week for a unit lolita, 08/04/2025 Renting on the Gold Coast is so expensive that tenants are sharing properties with as many people as they can make ends meet. Key points: Gold Coast tenants are living with up to five housemates to afford rent The median cost of a unit on the Gold Coast has risen to $680 a week In 2022, 25,715 interstate arrivals moved to the Gold Coast Among them is disability support worker Lillian Reed, who moved to the Gold Coast – Queensland’s most expensive place to rent – two years ago. “I live with four other people, so five people in a four-bedroom house,” she said. “It’s just so much more expensive here and there’s obviously a lot more competition, so it’s tough.” The 24-year-old initially planned to live in a beachside suburb but couldn’t afford it, so she moved into the smallest and cheapest room in her Varsity Lakes home. Lillian Reed is living with four other people so that she can afford to live on the Gold Coast.(Supplied: Lillian Reed) “I need to be working six days a week [to afford it] and our rent has increased by $110 in the past year, so it just keeps … Continue Reading
Loophole adds to ‘shameful’ rental conditions in England, says housing chief | Property rental lolita, 06/04/2025 A loophole allowing landlords to rent out squalid homes is contributing to “shameful” conditions of the type seen nearly a century ago, the head of England’s environmental health chiefs has said. Peter Wright called for wholesale reform of how the private rented sector is regulated to address “serious systemic failings” that leave tenants at the mercy of rogue landlords. Colleagues had seen properties in such disrepair – racked with mold, damp and rats – that they “keep officers awake at night”, he said. “There are some living conditions today that are as poor as we would have found in the 1930s, 40s and 50s. It’s shameful to feel that there are still people living in terrible conditions in 2023 in England.” Wright, the chair of the Association of Chief Environmental Health Officers in England, spoke to the Guardian as part of a series shining a light on Britain’s private rental sector. He said landlords had been able to get away with renting out squalid homes because there was no legal minimum standard that private rented properties in England had to meet, unlike in the social housing sector. This means it is not illegal for a landlord to rent out a … Continue Reading
Renters would now be financially better off buying one-third of the places they rent lolita, 04/04/2025 Renters in many major capital cities would now be financially better off buying the apartment or unit that they live in, according to new analysis that further highlights the ongoing rental affordability crunch for lower-income households. The data from private analytics company PropTrack compares the estimated cost of renting a property for 10 years versus purchasing one with a 20 per cent deposit, adding in stamp duty and rates. Early last year, it was found about one-quarter of properties nationally were cheaper to buy than rent. This has now risen to a third. This trend is much more acute when you split out apartments or units. Housing analytics firm PropTrack released this data on November 28, 2023.(Supplied: PropTrack) PropTrack economist Paul Ryan says this trend is emerging not because buying is getting cheaper but because rents keep going up rapidly, especially at the “bottom end” of the market dominated by students, young people and those on lower incomes. “We’ve seen rent growth on units increase quite substantially,” he adds. Housing market analysts say there are many reasons behind the continuing rental crunch, including the resurgence of migration, unwinding trends after the pandemic and a slowdown in new … Continue Reading
Property prices stabilizing after another boom, with rents still going up, especially on apartments lolita, 24/03/2025 The property market appears to be stabilizing in key regions after the latest boom, according to the latest monthly figures, with analysts forecasting that prices will not keep rising as quickly next year. Key points: Melbourne and Hobart home prices dropped 0.1 per cent in November Perth (+1.9 per cent), Brisbane (+1.3 per cent) and Adelaide (+1.2 per cent) had the biggest monthly city increases Homes at the lower to mid-range price points are now performing better than the top end The median national property price is now at a record high of $753,654, according to CoreLogic, although it is much higher in Sydney at more than $1.2 million. Key markets Sydney and Melbourne were fairly flat over the past month, but prices were still rising strongly in Brisbane, Adelaide and Perth. “They’re continuing to see housing values rocketing along,” CoreLogic’s chief economist Tim Lawless says. “Below the surface there’s a lot of diversity here.” CoreLogic’s figures for November show a patchwork of results across the country.(Supplied: CoreLogic) Interest rates have been rising since May last year, with some economists tipping another rate rise in February. Mr Lawless says property value growth is slowing as buyers at … Continue Reading