Australia’s rental crisis

With the country's rental market becoming increasingly competitive, Australian tenants face a worsening crisis as available properties fall to historic lows.

A shortage of available rentals is causing landlords in competitive markets to be inundated with applications as demand outstrips supply. Desperate tenants have been resorting to offering more than what is listed or even up to a year's rent in advance.

Nicola Powell, Domain's Chief of Research And Economics, said that with the reopening of domestic and international borders, the competition between tenants will only worsen and rental rates will increase. Vacancy rates nationally have reached their lowest point, with Sydney (1.4%), Canberra (0.5%), Brisbane (0.7%), Adelaide (0.2%), Perth (0.5%), and Darwin (0.5%) close to record lows.

With the rental market tipped heavily in favour of landlords, savvy investors know that now is the time to invest in rental property. This is especially true in major metropolitan areas, where the demand for housing far exceeds the supply. By investing in rental property now, you can secure a property that will be in high demand for years to come. Not only will you be able to charge top dollar for rent, but you'll also enjoy the appreciation of your property's value.

So don't wait any longer - now is the time to invest in rental property!