Rental Crisis Bites As Two Aussies Cities Become Unaffordable
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- เผยแพร่เมื่อ 25 พ.ย. 2024
- New data has shown that Australia’s cost of renting is officially at crisis point, with two our of big cities now unaffordable for most Aussies.
#Renting #Australia #RentalCrisis
It isn’t racist to say immigration is too high and the major contributor to the supply issue. Just have the courage to say it, people are suffering!!!!
FAR RIGHT everywhere import 3rd world
Immigration isn't the sole factor. Investment properties and lack of housing diversity.
But the clear fact is, the quickest way to alleviate this is reduce the number of people seeking a residence and thats through reducing immigration. All other points are mute. You can change the tax laws to remove investor incentive but there will still be the same demand. Creating more diversity of housing, thats not getting fixed quickly. Regardless of if immigration caused the issue, its clearly the quickest way to reduce pressure whilst the other factors are addressed. @thevannmann
@ I said major contributor, not sole factor.
Aussie economists have been saying for a few years now, it is mainly excessive immigration.
Aus in general is no different to many developed nations are experiencing.
but what makes things worse for Aus is the government is not doing anything. Contrast this ti Singapore’s HBD program: Lee Kuan Yew focused on housing soon after they left the Malaysian federation. Now more than 90% of Singaporeans own their home and a lot are under govt housing. A $300,000 SGD 3 bedroom apartment’s counter part in the private market is worth $1M+ SGD.
Canada has a very comprehensive housing plan. Labor and Liberal’s proposal pales in comparison. It just shows how weak our politicians are.
if you have not checked Matt Barrie out, please do, he talks about the big “Ponzi Scheme” thats going on in Aus, one of the major reasons behind our country’s cost of living and housing problem
Why don’t they TALK ABOUT the amount of PUBLIC HOUSING with boarded up windows that have been trashed and sitting there for years?
Trashed by who?
Apartments in city centres need to be mixed housing, disabled doctors etc. instead we give them free LMI on loans and everyone else pays
Everyone else who’s homeless needs to only get 2 years allocated to their housing unit not indefinite.
this is what happens when both major political parties are pushing for policies to fuel properties prices, just check how many MPs and ministers who don't have a few investment properties.
STOP MASS MIGRATION
Lower demand = more affordability
its invasion ,not imigration
600,000 a year too many!!!
Wrong! Landlords have higher mortgages and therefore will pass on that expense to renters.
Higher mortgages are caused by mass immigration!@@traceyholt8223
This has more to do with lack of housing diversity and investment properties. Build more apartments/terraced/town houses, not single detached.
Australia is actually number 1 in numbers of new homes being built per capita, the problems is you’re letting in 100k a month into Australia too keep the economy going but our standard of living declines in the process
Standards of living would decline even further without migration. The government's decision isn't without a reason. We should be asking why there are record low building approvals and why builders are collapsing left and right.
@ we have enough homes now we’re becoming homeless from too many people coming in. The truth is the politicians who owns more than one home which is most of them benefit the most from keep a expensive property market
@@TheHingshing There were no migrants coming in in 2020 but the housing crisis was already a growing issue since then. We can have zero migrants coming in and we would still have overpriced homes/rentals because the system itself is broken.
@ that’s totally different because we were in a lockdown. The domestic economy was failing because non essential services and workers were stuck at home.
@@TheHingshing My point was that the lockdowns made little to no difference to the overall long term housing trend, most of the country wasn't under lockdown for long periods of time. WA was a prime example of this, only a couple months of lockdown but many migrants left the state and the average housing/rent prices did not improve.
The reality is that property prices had already been rising higher than wages since the the early 2010s, I'm sure you can guess what happened during those times. Renting in 2018-2019 for many people was already struggle back then.
Nothing will change while we have half million extra people coming into Australia every year sadly - we need to cut this back to the 20th century average of about 80000 per annum please consider voting for sustainable Australia party - thanks
Noone's listening.. write to all MPs to shame the Labor party
keep importing more refugees, the ID that we don't know whether they're criminals or not ..
You voted for this, so sadly, it's what you get..
@@Jack-qk3xv I see your point but I didn't - I voted for sustainable Australia who have a policy of 70000 per annum max
@jamiephillips6036 I hear you, that's why I voted with my feet and left Australia, there's always an option to leave.
Labor's solution: Increase demand & decrease supply. Everybody clap.
They have property portfolios to protect.
to be fair the Libs are just as bad.. we slipped way behind the decade they were in government
@@arclux 10years and Fed LnP built 100,000 houses, needed to be aiming for 3million
This has been beyond a joke for many years, no wonder Aussies who can leave permanently do so to cheaper countries.
Any suggestions? Because I’m leaning towards that and New Zealand is looking like a good option (used to live there)
Genuinely interested, where are people moving to where they can have a good quality of life and maintain a career etc? New Zealand? I have friends there who say things are just as bad if not worse there. Honestly curious, it's getting to the stage where I'd consider my options if there were some clearly good ones.
@ get truck licence, HR> class 4 and pay rates start at 30+ in queentown atleast, but we do have black ice in winter hence the good pay
They are demolishing social housing and replacing it with predominantly “affordable housing” which can be up to 80% of someone’s income. Land banking and foreign investment has not helped us at all either.
So WHEN is this evil going to be STOPPED?
letting all these people in the country to live when we can’t even accommodate our own citizens. very disappointing government needs to do something about this very quickly
Disappointing? It's hell on earth!
Why do you think the state will fix it? They intentionally caused it.
This is so wrong. It should be Australias number 1 priority.
So many of Australia issues could be solved with affordable housing and rentals.
Not only are rents unaffordable, but Coles and Woolworths STINK of B.O.
Who else is starting to actually hate this country?
I understand your question.......its no longer the Australia I grew up in.
@ it’s become an immigration cesspool. Immigrants from everywhere, it’s a country that makes absolutely zero sense anymore.
I love this country as I am landlord, but I dislike the Labor, they are like Robin Hood to take the money from us and waste them!
Why say only two of cities, its Australia wide
If you bothered watching you'll know they literally did say that.
Global
Lambie is smiling the entire time she’s speaking. She’s enjoying herself, not helping anyone.
Maybe because her increased property portfolio???
So true, she stop helping people long ago
Milk and Honey
I was going to say the presenter lady is smiling and why. Actually they all are
@@KristianMumford yeah listen to her speaking, she's almost outlining the problem from a 3rd person perspective like she has no ability to fix it when's she's a powerful politician and one of the only ones who can influence a solution.😂
Just close the boarders untill this is fixed.
They really need to fix rent assistance for people
Rents have doubled
Because mortgages have doubled and this is being passed on.
@@traceyholt8223 Don't forget rates/insurance and land tax have increased a bucket load. Renters have no idea how dear it is to cover a rental. It's cheaper to rent than buy also.
@@coffeehouse44 I built my house Land $395k House (total cost) $355k - $750k. Established houses in the estate are worth between $750k and $800k. Last stage in the estate, land is now $600k plus build $400k = $1 million. Banks won't lend on that. This is why people aren't building .... add to that the fear of building companies going under.
A very large portion if the street i grew up on was housing commission,
I say was because these 3 and 4 bedroom homes were neglected with basic maintaince and then sold for dirt cheap by the system.
Those houses are now private rentals renting for 400$+ a week
Regulate rent rises. We regulate energy, land tax, rates, etc regulate rents to avoide price gouging.
@@dustingoldsworthy7303 Currently started being regulated to one annual rise in QLD, attached to the property.
This isn't working.
Now many landlords are just putting rent up by larger amounts ($100-120 a week) once a year, due to FOMO of money in a future speculated market. Thus increasing rents more than if they hadn't regulated at all.
Regulations with caps maybe based on dwelling size and location of maybe worth gov investigating?
In Japan, landlords are not allowed to raise rents without the consent of the tenant. Eviction over this matter require years of evidence from landlords to prove that the price hike was justified/reasonable.
Supermarkets price gouging.. landlords cashing on because of low amount of rentals available.
@@Gareth-c1d Not to mention Telstra and Microsoft just this month.
Landlords in Victoria are paying astronomical land taxes
@@serenitynowyolo Council rates are expensive for all home owners.
Mate they are building the wrong homes. No land to play or make a garden for your own vegetables or fruit trees. Terrible
And the houses that are being built are absolutely crappy quality that will fall over in 10-15 years. And people are paying $1m+ for them LMAO.
The running joke from the Howard era of politics was that nobody would complain about rising house prices. Australia is the joke decades in the making.
We are paying 40% of our income on rent in outer suburbs of Brisbane. Sucks
In Sydney 60%
Get rid of useless pollies like lamboe wohld be a start
Trouble with approving and building fast is the quality will not be there and then we are potentially back in the same situation as we are now as the houses built today will not be built to last. It's a double edged sword.
What is she smirking about?
Air BnB.. taking hundreds of thousands of homes off the market.
Look after our own FIRST!!!
Classic example of a slow motion train wreck, where warnings were not heeded for decades. Typical.
Displaced people and those experiencing rental or housing stress have been trashed, and the authorities are 100% culpable.
I wonder what else is possible?
In response to Jacqui's suggestion that "elderly" people be forced out of their homes into a 1 bedroom home - NO WAY. I'm in my late 50s and had built a 4 bedroom home. Some of my children moved out as adults, so I downsized and built my current 3 bedroom home. All of my children have moved out now. This is MY home. I have helped Australia by building 2 of the 4 homes I have owned in my lifetime. I designed this house to suit me for my retirement years. WHY should I be forced to move into a one bedroom (and do they exist?) house. Many older people have lived in their houses most of their adult lives with memories of children raised. They want to live there until they die not be forced into tiny units in another suburb that they haven't grown up in.
I think she's more referring to long term public housing tenants, where there used to be a family in a larger home and there is now a single person or a couple. She's suggesting moving these people into smaller accomodations to free up the larger public housing stock for families. I don't think she is suggesting private home owners should relinquish their homes to others.
no public housing
I know it’s all given to the immigrants that come If you’re Australian, you are second-class citizen
I’m on the DSP and my landlord tried to increase my rent by $430 a month I appealed it and it went up $200 a month still a lot when you’re on your own
As she smiles an laughs
Why would she care. She has secure housing and prob more under her family real estate trust.
@showyceramics 100%
10 years of the coalition and their incompetence
And Labor are now showing they're just as incompetent and corrupt, sadly. There's no way out of this mess, we have to deport everyone who has arrived in the past 10 years to fix it and you just know that won't ever happen. This country is going backwards so fast.
approve houses fast built for rich people buying them all😂 some people have too many houses and keep buying the rest.. big busines and the people in goverment are in the busines of renting houses they dont care to change anything, they just want their next proyects approved
2.5 years. Albo has done nothing. No wonder he has 3 🏘️ houses to live in and many struggle to find one.
Yeah, he’s looking after all the immigration
I call ageism on lambie.. Boomers that have their own home have every right to their three bedroom and spaciousness.. just because it's difficult and different in contrast to the past, no older person should be shipped out of their own home
I am one if many affected by the rental crisis.. I do not own my own home, but our elders need to be treated with dignity and respect
She’s talking about older people in public housing whose children have left which is common
Rent connect is a subsidized rental scheme that helps those on DSP etc. The housing department is responsible for the applications and approval for this. It helps to subsidize the rent so that you can keep your current rental and not have to relocate.
The cost of owning a home is unaffordable now. Why are you only focusing on renting? How many home owners have had to sell their homes and rent because they could no longer afford their mortgages?
It's overpopulation! 👍
I have a job but I still suffering from homelessness
Im soon going to be heading that was as my long time go just notify all of us it will be closing in a few yrs. And Im too old to be hired by another company.
Hang in there John. keep grinding.
*We also need to start building more inland cities. this obsession with the coast needs to stop. we have the space*
What do they call affordable housing? Can someone please explain :)) It's just the Domino effect of the cost of everything . Past governments have a lot to answer for. The one thing that does bother me though, are the people whom complain about the so called high interest rate. If and when it eventually goes down. Will the rent prices go down I THINK NOT. Again the ones whom suffer the most are the battlers and lower income earners.
I will say this, I believe they should have hostels, and these vacant government buildings, into hostels, these Governments, federal, states and local, and also councils should do more help the Australian people
You can blame the developers and the greedy realestate agents who are telling the owner that we can get you more money maybe we need a Royal commission into the behaviour of the realestate industry I had a rent hike of $100 a week when in the past in has been $10 has anyone noticed how the realestate agent are getting around in expensive cars and the and I'd have to say there are some really greedy investors wanting more money too....
Real estate agents rarely buy their cars. They generally lease them.
@A_von-0606 to lease a car can be just as expensive depending on the car 😒🙄
@@warzone-r2sleases are paid over time and are tax deductible. Unlike a loan.
Yes! You hit the nail on the head
I’m sick of these Sydney people thinking they have it harder than regional.
they have the most expensive rent in the whole country?? they absolutely do have it harder lol
@@sdfghjklsdfghjklosdfgbhnjm5721 Then tell them to stop overcharging their air bnbs if it’s so hard then.
@@sdfghjklsdfghjklosdfgbhnjm5721 Then they need to move. Sydney has made it quite clear that it doesn't want them.
You are angry at the wrong people. Who screwed this up- Goverment not planning and building adequate housing stock for last 20 odd years.
Then why do they keep overcharging on airbnbs, the insurance is their problem not the consumer.
I was homeless for 2 months across Christmas 2 years ago, a truck driver, plumber and real estate agent all 3 of us applied to over 30 properties, each with rental history, but the competition was too steep. My previous rental sold the house, they kicked me out saying they were gonna live there, but they just renod and raised the rent.
And that was 2022 to 2023. I had to move in with a couple from my work in the end.
That's fkd. Politicians are making people's lives harder on purpose. There's a reason Albo bought a house 90 mins from Sydney, he doesn't want to be around all the immigrants he brought in and he knows people in Sydney will hate him for what he's done. Our politicians are all weasels.
That’s not homeless homeless is when you’re living on the street with nowhere to go. You were lucky you had friends to live with Unlike some people that have got children living in cars, tents you didn’t do it hard at all you had somewhere to live
And sure I admit there are huge leaps in sleeping in a car vs a tent with kids. But why would you try and compare one persons situation to another. I'm not the real issue, sorry if you've had your own challenges, its not a pain contest but the reality is the same. The affordability is an issue, the unchecked migration is an issue, covid and consequential building halts and shoddy cowboy work is an issue, amongst many.
But thanks for pointing out 'what I should be grateful for' when really this situation should not happen. Am I grateful for life and those places I could sleep, yes, but you don't need to tell me that, to make my challenges baseless. Consideration of others challenges. Recognition of the issue. The causes. And what we expect for our country.
@@jordanvandenberg1987 this country is turning into a hole and I hate it more as each day goes by.
I’m mad as hell!!!
We just have a continuous echo chamber. The same story every week. How about you use your platform to actually start getting the results required.
Because it's easier to not care and then subjugated those who can't get or keep accommodation...like they are criminals or something and somehow deserve it
State government increase land tax on rental properties. Bank charge high interest on loan for rental properties. That is why rent go up.
Lambie sicken me. Through oldies out of their homes and give to the ungrateful.
30 years behind, more like 30 years of planning
Our hefty tax is not redistributed effectively. Reduce the MP's salary and benefits, if they don't initiate to build affordable housing.
I can borrow $540k. House price $1.5m. Dunno how i can move out ever....
thank you labor
I moved to Japan 16 years ago as cost of living was increasing, rents jumped $50/wk and I was concerned for the way it was heading.
Paid @ $250/wk for apartment in Tokyo and it even dropped in the time I was there.
Literally 8 properties in NSW for run @300 and under.
In Vic the land taxes and new laws have sent rents up plus the low vacancy rates.
Lol extra $300. It was a tax subsidy
thank the state govenment for their money wasting lunacy
Rent increases shouldn’t exceed the inflation rate , and increases should only happen once a year
I love hearing all these so called educated experts and they say just build more houses?
Cost of a house $1mill for land plus build cost?
The problem is mass immigration!
They are bringing in people who have been given millions and citizenship from their countries!
I was an agent selling to them, I left the industry because I didn’t agree with it!
The Australian population is on the decline and we are building more houses than ever before, but the imagination numbers are astronomical. The politicians are doing everything they can to keep their property portfolios looking good.
Doesn't ACT have rental cap ?
Canberra is F being a landlord, you need to get your head read if you buy here.
This is so sad 😢. This man reminds me of my brother.
My mate got booted out of his commission house and it’s been sitting vacant ever since
This housing Chrisis is avoidable, I’ve lost count of how many vacant houses I drive past because the owner just doesent want to deal with it, but won’t sell at market prices or won’t sell at all
So so sad 🫣🥹🥲🥲🥲
if they mention reduce immigration they are at risk of being cancelled. you can feel the tension in their faces - each is afraid the other may say the word immigration 🤣
The problem isn't immigration... It's more foreign investments if you think about it. Who owns all those tiny apartments in the cities? Who are they for?
I pray that all these people will be able to find affordable housing. My heart hurts for them.
Thanks Albo
LNP did nothing for 10years. Short memory much.
Absolute joke
Keegan is it? Could not pick up the name. My dear young Keegan, you appear to be looking for a 'Silk Purse' in the shape of a house, while only having a 'Pig's Ear' at your disposal. Face up to it Lad. You are poor. The rents that you may be able to afford are hundreds of kilometres from where you seek. It is the BUSH for you. the only people that can afford city rents are those with jobs. Senator Lambie should address this point, instead of waffling on about spades and soil. Face it everyone - we are a two tier country. The HAVES and the HAVE NOTS!!
Repayment 750 k home loan can be as much as 1300 a week so how can the home owner can repay the mortgage asking for less than that ? Labour policies of high interest rates fault
Not how interest rates work, ask John Howard of the Liberal Party.
All planned
Become? Rent prices have easily doubled with real-estate agents only offering 6 months leases and $100 per week increases at the end of that period. Its ridiculous and should be illegal. Investment properties with little to no investment from the owners.
Melbourne's outer suburban farmlands are now all getting sub-divided.
My ex-partner sold their farm to a group of Indians - who call it a "Land-Bank"!
Think about it - the immigrants even have a name for it!
(Better than money in the bank!)
I’ve been knocked back 4 times!! Rents are too high we’re not all rich
All these new houses are being built out in whoop whoop in the middle of nowhere.
I live in Phoenix Arizona and my rent is $350. I have the coolest landlord.
This country has changed so much the past 10 years it's become unrecognisable to me. Every time I go out I hear foreign accents everywhere. When I turn the news on I hear foreign accents from the people hosting and the people they interview on the street. People seem to not be able to drive anymore. Every night I go out and drive I spot at least one person driving without their headlights on. Housing costs are through the roof. Living costs are through the roof. The gap between rich and poor is growing and isn't slowing down. I do not see this country as a good place anymore and I grew up here. Politicians have purposely run this country into the ground, they are destroying it on purpose and undoing 200+ years of work to make this country what it is. It is abhorrent and traitorous. The place I work at (a large Aussie brand) has so many immigrants working in it and so many of them are actually incompetent. It makes no sense what is happening to this country. F it all.
Same as NZ. Bring in the slave labour migrants to drive the economy and watch born and bred citizens become secondary. Why is it so hard to shut the gate and recalibrate our own affairs for a bit? I’m not saying that we stop permanently, but a bit of a breather would go a long way.
It's due ro the population increase and its deliberate.
*maybe we need to start building trailer parks here in Australia like they have in the US*
I’m sure there are trailer parks , they are that cheap neither
Caravan
@@jasoncarmichael4540 I said trailer parks
@ trailer parks and caravan parks , pretty much the same thing bro
I'm assuming this problem only exists in the cities. I live in a rural area/big town and there's no rental crisis so I would recommend these people get out of the cities and live somewhere with less rental pressure
Are you dreaming. Regional Australia rents have gone thru the roof and availability is a big problem
@bgreen7286 ok maybe I am but wouldn't be anywhere near as bad as the city anyway is my point you know if it was me I would go to country towns you would increase your chances a lot I would imagine
Lol Tasmania rent is still up there
Well in Victoria landlords have land tax. Of course it will have to be passed on …
Use the analogy of 1 pint of water, mass uncontrolled migration & your trying put the 1 pint into 1/2 pint glass, slow migration down!!
Interesting “Australians” talking about imigration🤔🕊✝️🙏🏻
We should call for the politicians responsible for this mess to be jailed.
Eventually no one will have any disposable income and just you wait.................. then the REAL fun happens.
We bought a reasonably priced studio in GFC 2009; Canada is in the same situation.
Im Canadian living abroad. Someone that from Canada had told me that Canada is not what it was like 10 yrs ago. And the Trudo that is running the country has to say it nicely taken it down the toilet.
He is horrible!!!
Canadians need to stop voting him back in get rid of him like the US brought back Donald Trump.
What a joke beautiful country Australia !
Australia is only beautiful to immigrants. Anyone who lives here who has a brain can see it sucks now. It's an overrated hellhole where you are taxed a huge amount, housing is extremely expensive and you have to worry about an immigrant taking your job. Not worth it anymore.
ACT rent is already super high
More supply is not the answer. We are being gaslit by government and property developers. We need to reduce migration to net zero. The skills crisis has only gotten much worse since the government started mass migration back in 2000. More migration just means a bigger skills crises to address the lag effects of increasing demand in the economy.
How devolpers the problem the governmemt screw them over ?? Why building approvals cost 10 of housands for a develpoer and delay approvals 3 yrs .. why less supply built
Who didn't see this coming.., with our taxpayer funded public housing, free money to about 3 percent of the population on the dole and taxpayer funded pension, not to mention free healthcare, education, dental, and many more services provided by the taxpayer and with the aging population, if migration doesn't happen ( who don't qualify for welfare) who is going to fund it?.., only those that have been asleep are complaining. Be careful of what you wish for.., change your mindset and change destiny ✨️ 💯.
They both the states property taxes on landlords gone up alot
So true
Qld is no better
If u show up like this then ya unfortunately u ain’t getting anything mate when a couple shows up with 2 full time job
people will be forced to move out of the city! is it a good thing for Australia in the longterm?! redistribution of population into also other parts of the nation and therefore balanced development?!
No point living in regional Aus if there's limited amount of work available