Is there a shortage of residential property or not???? To buy or to rent.
They say there is a huge shortage due to immigration etc,.
If you look in any town, city or suburb, you nearly always can find many houses for sale and rent.
If you have the money, you can walk in and buy a property nearly anywhere.
Maybe they mean theres a shortage of affordable property.
Even with vacancy rates with renting, they are not in the negative.
What do you think?
Regards,
Frosty1If residential property is truly in shortage as they want you to believe then one would expect to see a spike in the number of homeless family waiting for available housing. But my observation tell me otherwise.
I personally have not seen a homeless family.
Maybe there is a shortage of property …. by all those wanting to own 10+ properties, the buyer agent and the RE agents.
I was wondering on this again this morning. We have had zero population growth in the age group that matters (Costello's kiddies don't factor yet), massive building in the last ten years, whole new suburbs have sprung up, massive medium density, continually going since around 1998, and all fueled by immigration, which very seldom factors in the wave of Aussies who have moved overseas.
Now in recent years a lot of people on 417 Visas bought in during the boom, will be heading home, rising unemployment will make further immigration a very sensitive issue, and the building continues unabated.
I think the building shortage was over hyped. I remember about 30 years agom when a friend of ours found a unit to rent in Bondi after months of looking, we all went out and celebrated. Certain areas have always had vacancy of less then 1%. This has recently been extrapoloated to a national wide shortage.
The only argument for Australias overvauled property is the supposed shortage. Unless unemployment comes down, and immigration comes back up, the shortage underpinning the market will weaken substantially..
wonder what they will do to protect the building industrty then…
I agree, why are there still vacancies, why ??? If there is a housing shortage? You reckon if there was such a housing shortage there would be no vacant homes around.
Where are the shortages?? I bet there is a vacant property there as well.
What properties are we short on and where????
Please explain!!!!!!
API data show that the vacancy rate has increased on avarage in australia. Some suburbs have double. All suburbs show that they have vacant property. Is this just talk from the government to get the building industry up?????????
FROM TENANT POINT OF VIEW: It's been almost a year since we were looking at a property to rent (close to Brisbane CBD) .
I'm blown away with the difference a year makes. This time last year I could hardly find a spacious, airconditioned 3/2/1 townhouse south of the river for under $400 week. Today I found over 100. There are some suburbs (e.g. Carina) where rentals seem to be sitting empty for weeks.
Our landlord has increased our rent, but we are going to move – we think that with our track record as good tenants and the abundance of available properties we can get what we have now for less money, not more.
FROM BUYER'S POINT OF VIEW: As buyers-in-waiting we are still on the sidelines because we see homes in this area (Bulimba, Hawthorne, Norman Park, Cannon Hill, Balmoral etc) going down not up, even though when you talk to agents they seem to be all upbeat and saying how fantastically things have picked up. Really? It's not what we see when we go to actual auctions and track the sales. On real estate office windows there are little stickers over the asking prices – the stickers are lower prices. Some listings have 3 or 4 stickers on them.
Hi
The wife and I went to check out a rental in the lot of units where we had just purchased our first IP. The unit was rented out before official inspection, with potential renters waiting outside told that the unit had been rented by someone who had not even inspected it at the first place.
I think, from a rental point of view, there has been a shortage of well maintained and located properties. There are always many other properties available in further less convenient locations.
During that inspections, we spoke to a REA who came to inform everyone that the unit, and she said that until recently during the FHB buying rush, even well maintained and located rentals were going slow. However, things have changed now that the initial group of FHBs who could buy had already bought, leaving the remainder of FHBs who are unable to buy going back into renting.
So, there could be a general complain about a lack of well maintained and located rentals.
Could be the same for well built and located properties for purchase?
Regards
Daniel
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