Higher Vacancy Rates Won't Ease the Rental Crisis for Tenants | Property Insiders
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- čas přidán 22. 08. 2024
- Rents continued their upward trajectory, providing no significant relief for tenants.
In today’s Property Insider chat with Dr Andrew Wilson, chief economist of My Housing Market, we discuss the latest My Housing Market Rental Report.
02:11 - Rising prices and lack of relief in rents
06:07 - Impact of income growth on rental demand
06:52 - Asking rents and vacancy rates on the unit market
08:25 - Lack of new apartments and houses being built
09:55 - Rise in housing approval figures and trends
11:42 - Decline in unit sales and oversupply issue
13:25 - Decrease in unit prices despite building boom
15:40 - Slow progress of building approvals and constraints
19:02 - Government's role in creating an environment for builders
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The latest My Housing Rental Report showed that rental markets eased over June, with capital city vacancy rates for both houses and units generally rising. Rents, however, continued their upward trajectory, providing no significant relief for tenants.
Today Dr Andrew Wilson also discusses the latest dwelling approval figures, which shows we're not building enough dwellings to cope with the demand, and there is no way we'll meet the government requirement of 1.2 million new dwellings in the next five years
We also discussed the latest auction results.
There are easy solutions to the problem including deportation..
Luckily, my spouse and I were able to pay off our mortgage early. We took the money we were spending to accelerate our mortgage repayment and invested it right away while we were both still working. We were able to retire early after accumulating what would have been our home payment for over 7 years and maxing out our 401K/403B plans. Thankfully, both of our parents taught in us the importance of living within our means.
Investing without proper guidance can lead to mistakes and losses. I know this since I've been there myself. Seeking guidance from a professional is preferable if you're new to investing or don't have much time.
Investors can have different investing results even with the best strategy and suitable assets. Understanding how experience plays a critical part in successful investing is key. Since I was aware of this, I consulted a market analyst for advice, which helped me build my account to about a million dollars. Having strategically cashed out just prior to the market correction, I'm now taking advantage of buying opportunities once more.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances
@OscarOwenn well done, congratulations
@AlexClarkcompany good advice, thank you for watching our video
Mortgage rates need to decrease, land tax needs to decrease , this will lead to easing of rental tarrifs.
If supply increases than rent will eventually stabilise and maybe go down slightly. But the government needs to support building more houses and restrict migration.
You see mate. You are filamin Spot on. I like your statement. Well Done 👍
You have managed to state what 99% on this channel can't get through their thick heads
@chrisnguyen7341 yes the government is saying a lot but not doing much
Banks appear to have replaced ABS data on household income and the "We're here to help with refinancing options" in 2022/2023 and current is a nationwide audit of household debt and superannuation balances. With SMSFs/Trust/Company structures booming, they are slowly lasooing everyone's superannuation accounts and as expected in time will become first creditors.
@leonie563 Thanks for watching our video and your comment
@@MichaelYardneyLove how you don’t respond to some people because you have no legitimate response to them 😂😂😂😂
@@MR-hu1bx I didn't know it was my obligation to respond to everybody - but I'm taking the trouble to respond to you. Thanks for coming back with all your insightful comments.
Melb houses are lots cheaper than Sydney by $212 pw.
@michaelmallal9101 yes, there is a significant difference isn't there?
They'll be even cheaper once we start Nation Building once again..Oh yess..
Has anyone hete on this channel actually layed any bricks.. Because you like to have possession of property but not really contribute to much..As a society we could probably do without you..just saying
You are all renting. What makes you think you own anything?
That’s life, the moment your born the clock is running. It’s what you do with your time that counts.
@@scottyates5758the banking cartel and Gov are obviously spending their time to enslave us all .
@@scottyates5758by design
Really? How many jabs you have? did you do what they told ya?
@@emp731 what an unfortunate view on life you have. having conversed with you for a number of years I guess there's no way that's going to change
Great information Michael the whole episode was full of bread crumbs to follow & lead cookie to success ! 🧱🍪
Bottom dwelling crumb muncher
@CookieMonster-wy4qb thanks for the kind words
Bottom dwelling crumb muncher
We'll call you Munchie instead of cookie
@@emp731 keep living in the cheap seats of life chump !