{"id":38293,"date":"2022-04-28T12:15:28","date_gmt":"2022-04-28T00:15:28","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=38293"},"modified":"2022-04-28T12:15:28","modified_gmt":"2022-04-28T00:15:28","slug":"more-than-half-a-million-people-have-left-australia-during-covid-19-so-why-isnt-there-anywhere-to-rent","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/more-than-half-a-million-people-have-left-australia-during-covid-19-so-why-isnt-there-anywhere-to-rent\/","title":{"rendered":"More than half a million people have left Australia during COVID-19. So why isn\u2019t there anywhere to rent?"},"content":{"rendered":"<p><strong>PHOTO: Rental crisis bites. FILE<\/strong><\/p>\n<p class=\"_1HzXw\">Veronica Silva is being turfed out of the home she has rented for a decade.<\/p>\n<div class=\"_2X-83 g1U-R v-gc3\">\n<section class=\"_1uHEE _2Mryn\" role=\"contentinfo\" aria-label=\"key points\" data-component=\"KeyPoints\" data-uri=\"coremedia:\/\/teaser\/101013394\">\n<h2 class=\"qyyOZ _4HANS wYJvU _1o1Da _1cBaI _18377 _2yZBa _3I3Xh _2uBSR _10YQT _1lh6E\" data-component=\"Heading\">Key points:<\/h2>\n<ul class=\"_1PvbE\" role=\"list\" data-component=\"List\">\n<li class=\"\" data-component=\"ListItem\">More than 500,000 people left Australia during the pandemic<\/li>\n<li class=\"\" data-component=\"ListItem\">Despite that, the number of rental vacancies is at a record low<\/li>\n<li class=\"\" data-component=\"ListItem\">Properties have been sold and taken out of the rental market<\/li>\n<\/ul>\n<div class=\"entry-featured-img-wrap\"><a class=\"entry-featured-img-link\" href=\"https:\/\/propertynoise.co.nz\/au\/interested-in-becoming-a-supporter\/\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-hoot-medium-thumb  entry-content-featured-img entry-grid-featured-img wp-post-image ls-is-cached lazyloaded\" src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2020\/04\/Featured-Image-460x270.jpg\" alt=\"support\" width=\"460\" height=\"270\" data-src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2020\/04\/Featured-Image-460x270.jpg\" \/><\/a><\/div>\n<div class=\"entry-grid-content\">\n<header class=\"entry-header\">\n<h2 class=\"entry-title\"><a href=\"https:\/\/propertynoise.co.nz\/au\/interested-in-becoming-a-supporter\/\" rel=\"bookmark\">Support independent Australian news aggregation<\/a><\/h2>\n<\/header>\n<\/div>\n<\/section>\n<\/div>\n<p class=\"_1HzXw\">&#8220;It&#8217;s just too hard. I&#8217;m crying myself to sleep most nights \u2026\u00a0it&#8217;s just stress,&#8221;\u00a0the great-grandmother says.<\/p>\n<p class=\"_1HzXw\">A hotel housekeeper for 40 years, Ms Silva says\u00a0six of her neighbours are also being kicked out of their Gold Coast homes amid the expiry of a scheme\u00a0giving\u00a0landlords a subsidy for providing affordable rental housing.<\/p>\n<p class=\"_1HzXw\">&#8220;I&#8217;m going to\u00a0miss all these people that are around me,&#8221; she laments.<\/p>\n<p class=\"_1HzXw\">&#8220;They all have at one stage or another touched my life and made it better. And I&#8217;ve got to go and do that again. At 78 \u2026 I can&#8217;t.<\/p>\n<aside class=\"_2X-83 g1U-R _1VIKT\" data-component=\"Pullquote\">\n<blockquote class=\"_2Bzft\">\n<p class=\"_1HzXw\"><em><strong>&#8220;I&#8217;ll end up locking myself in that house and not coming out. That&#8217;s what&#8217;s going to happen to me.&#8221;<\/strong><\/em><\/p>\n<\/blockquote>\n<\/aside>\n<p class=\"_1HzXw\">On the surface, Australia&#8217;s rental crisis does not make sense.<\/p>\n<p class=\"_1HzXw\">More than 500,000 people left the country during the pandemic, and closed national borders prevented immigration and tourism. That should have freed up housing and pushed down rents across the nation.<\/p>\n<p class=\"_1HzXw\">But after brewing for decades,\u00a0the rental crisis is truly here.<\/p>\n<h2 class=\"qyyOZ _4HANS _3HiYf _2K_6X _1cBaI _2b-O4 _2yZBa _3I3Xh _2uBSR _10YQT _1lh6E\" data-component=\"Heading\">Record low vacancies, rents surging<\/h2>\n<p class=\"_1HzXw\">Ms Silva is at the sharpest end of a growing calamity.<\/p>\n<p class=\"_1HzXw\">The rate of vacant rental properties is at record lows. The proportion of homes considered affordable for pensioners like Ms Silva is even smaller.<\/p>\n<p class=\"_1HzXw\">Having secured a property, Ms Silva, who uses a motorised wheelchair, will now live 60 kilometres further away from her family and pay $70 a week more from her fixed income.<\/p>\n<p class=\"_1HzXw\">Asked what she will cut out of her budget to make that work, the answer is blunt: &#8220;Food.&#8221;<\/p>\n<p class=\"_1HzXw\">Property firm REA Group uses its popular realestate.com.au website to mine information about the rental market.<\/p>\n<figure class=\"_2XhY1 _2X-83 g1U-R _3V6uS\" role=\"group\" data-print=\"inline-media\" aria-labelledby=\"101020720\" data-component=\"Figure\" data-uri=\"coremedia:\/\/imageproxy\/101020720\">\n<div class=\"_3C2ok\" data-component=\"IntersectionObserver\">\n<div class=\"_3C5J1\" data-component=\"AspectRatioContainer\"><img decoding=\"async\" class=\"_1sqAO WIJbJ\" src=\"https:\/\/live-production.wcms.abc-cdn.net.au\/ef182ae2539377bd26afab99ee9eec79?impolicy=wcms_crop_resize&amp;cropH=584&amp;cropW=1038&amp;xPos=193&amp;yPos=426&amp;width=862&amp;height=485\" sizes=\"100vw\" alt=\"lease sign\" data-component=\"Image\" \/><\/div>\n<\/div><figcaption id=\"101020720\" class=\"qyyOZ _1WKJ_ _3rsys _1srG4 _3PhF6 _10YQT _2Cu8q\" data-component=\"Figure__figcaption\"><em><strong>REA Group data shows the number of properties available for rent is at its\u00a0lowest since 2003.<cite class=\"qyyOZ _3gxdk _3rsys _1srG4 _3PhF6 _10YQT _2Cu8q\" data-component=\"Figure__cite\">(<span class=\"qyyOZ _16znc _3rsys _1cBaI _3PhF6 _10YQT _2Cu8q\" data-component=\"Byline\"><span class=\"qyyOZ _3rsys _1srG4 _3PhF6 _10YQT _2Cu8q\" data-component=\"Text\">ABC Illawarra: Tim Fernandez<\/span><\/span>)<\/cite><\/strong><\/em><\/figcaption><\/figure>\n<p class=\"_1HzXw\">Its quarterly PropTrack Rental Report has found weekly rental prices have shot up, rising 4.7 per cent over the year to March, the strongest annual rate of rental growth recorded since before 2015.<\/p>\n<p class=\"_1HzXw\">That is because of a lack of stock. The total number of properties available for rent in March 2022 was the lowest since August 2003, falling 4 per cent in March 2022 to be 24 per cent lower than a year earlier.<\/p>\n<div class=\"entry-featured-img-wrap\"><a class=\"entry-featured-img-link\" href=\"https:\/\/propertynoise.co.nz\/au\/get-keep-informed\/\"><img decoding=\"async\" class=\"attachment-hoot-medium-thumb  entry-content-featured-img entry-grid-featured-img wp-post-image ls-is-cached lazyloaded\" src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2019\/10\/Enews-GIF-400x270.gif\" alt=\"Enewsletter\" width=\"400\" height=\"270\" data-src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2019\/10\/Enews-GIF-400x270.gif\" \/><\/a><\/div>\n<div class=\"entry-grid-content\">\n<header class=\"entry-header\">\n<h2 class=\"entry-title\"><a href=\"https:\/\/propertynoise.co.nz\/au\/get-keep-informed\/\" rel=\"bookmark\">GET &amp; KEEP INFORMED<\/a><\/h2>\n<\/header>\n<\/div>\n<p class=\"_1HzXw\">In March there were fewer than 130,000 total rental listings available. That is a huge 24.9 per cent\u00a0lower than the decade average, which was about 170,000.<\/p>\n<p class=\"_1HzXw\">There are\u00a0simply fewer homes for people to try to rent.<\/p>\n<p class=\"_1HzXw\">&#8220;Basically, since 2014, when banks started to be allowed to charge higher interest rates to investors, we&#8217;ve seen a lot of investors leaving the market,&#8221; said Cameron Kusher, executive manager of economic research and author of the report.<\/p>\n<figure class=\"_2XhY1 _2X-83 g1U-R _3V6uS\" role=\"group\" data-print=\"inline-media\" aria-labelledby=\"101018722\" data-component=\"Figure\" data-uri=\"coremedia:\/\/imageproxy\/101018722\">\n<div class=\"_3C2ok\" data-component=\"IntersectionObserver\">\n<div class=\"_3C5J1\" data-component=\"AspectRatioContainer\"><img decoding=\"async\" class=\"_1sqAO WIJbJ\" src=\"https:\/\/live-production.wcms.abc-cdn.net.au\/9ee621beaae5f3909736f665624860f3?impolicy=wcms_crop_resize&amp;cropH=2688&amp;cropW=4032&amp;xPos=0&amp;yPos=34&amp;width=862&amp;height=575\" sizes=\"100vw\" alt=\"Cameron Kusher\" data-component=\"Image\" \/><\/div>\n<\/div><figcaption id=\"101018722\" class=\"qyyOZ _1WKJ_ _3rsys _1srG4 _3PhF6 _10YQT _2Cu8q\" data-component=\"Figure__figcaption\"><em><strong>Cameron Kusher cannot see an easy solution to Australia&#8217;s housing crisis.<cite class=\"qyyOZ _3gxdk _3rsys _1srG4 _3PhF6 _10YQT _2Cu8q\" data-component=\"Figure__cite\">(<span class=\"qyyOZ _16znc _3rsys _1cBaI _3PhF6 _10YQT _2Cu8q\" data-component=\"Byline\"><span class=\"qyyOZ _3rsys _1srG4 _3PhF6 _10YQT _2Cu8q\" data-component=\"Text\">ABC News: Lucas Hill<\/span><\/span>)<\/cite><\/strong><\/em><\/figcaption><\/figure>\n<aside class=\"_2X-83 g1U-R _1VIKT\" data-component=\"Pullquote\">\n<blockquote class=\"_2Bzft\">\n<p class=\"_1HzXw\">&#8220;When the pandemic hit, that selling by investors was supercharged.&#8221;<\/p>\n<\/blockquote>\n<\/aside>\n<p class=\"_1HzXw\">With international borders reopened and migrants returning to our shores, Mr Kusher anticipates a further tightening in the rental market, with rents to rise the most in Sydney and Melbourne.<\/p>\n<p class=\"_1HzXw\">The capitals are the largest rental markets in Australia and the ones that had seen a brief\u00a0drop in rents\u00a0earlier in the pandemic,\u00a0largely centred in\u00a0a few central areas of those cities.<\/p>\n<p class=\"_1HzXw\">&#8220;The lack of supply has been exacerbated by many former landlords selling their investment properties,&#8221; Mr Kusher explains.<\/p>\n<p class=\"_1HzXw\">&#8220;With most of this stock having been purchased by owner-occupiers, it has reduced the overall supply of stock in the rental market.&#8221;<\/p>\n<p>READ MORE VIA <a href=\"https:\/\/www.abc.net.au\/news\/2022-04-28\/housing-crisis-in-australia-amid-surging-rents-stagnant-incomes\/101013334\">ABC<\/a><\/p>\n<div class=\"entry-featured-img-wrap\"><a class=\"entry-featured-img-link\" href=\"https:\/\/propertynoise.co.nz\/au\/sexy-real-estate-agents-fun-instagram-page-sexy-agents\/\"><img decoding=\"async\" class=\"attachment-hoot-medium-thumb  entry-content-featured-img entry-grid-featured-img wp-post-image ls-is-cached lazyloaded\" src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2022\/02\/T-Shirt-Design-460x270.jpg\" alt=\"SEXY AGENTS\" width=\"460\" height=\"270\" data-src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2022\/02\/T-Shirt-Design-460x270.jpg\" \/><\/a><\/div>\n<div class=\"entry-grid-content\">\n<header class=\"entry-header\">\n<h2 class=\"entry-title\"><a href=\"https:\/\/propertynoise.co.nz\/au\/sexy-real-estate-agents-fun-instagram-page-sexy-agents\/\" rel=\"bookmark\">Sexy real estate agents \u2013 FUN Instagram Page | sexy.agents<\/a><\/h2>\n<\/header>\n<\/div>\n<h3 class=\"widget-title\"><span class=\"accent-typo\">MOST POPULAR<\/span><\/h3>\n<ul class=\"wpp-list wpp-list-with-thumbnails\">\n<li><a href=\"https:\/\/www.propertynoise.co.nz\/abandoned-land-for-sale\/\" target=\"_self\" rel=\"noopener\"><img decoding=\"async\" class=\"wpp-thumbnail wpp_featured wpp_cached_thumb lazyload\" data-src=\"https:\/\/sp-ao.shortpixel.ai\/client\/to_webp,q_glossy,ret_img,w_75,h_75\/https:\/\/www.propertynoise.co.nz\/wp-content\/uploads\/wordpress-popular-posts\/64681-featured-75x75.jpg\" alt=\"Abandoned land\" width=\"75\" height=\"75\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 75px; 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FILE Veronica Silva is being turfed<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/more-than-half-a-million-people-have-left-australia-during-covid-19-so-why-isnt-there-anywhere-to-rent\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":7339,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098512,478110955,478113383,478098521,478119787,478100759,478102525,478108952,478098519,478098535,478115569,478098873,478098579,478098510,478098514,478121007,478098511,478098705,478098533,478098509,478099150,478103673,478121006],"class_list":["entry","author-data123nz","post-38293","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-australia","tag-australian-rental-property","tag-australian-rental-vacancy-rates","tag-australians","tag-australias-rental-crisis","tag-buying-a-rental-investment-property","tag-cameron-kusher","tag-covid-19","tag-home-ownership","tag-house-prices","tag-housing-rental-prices","tag-property-investment","tag-property-market","tag-property-news","tag-propertynoise","tag-proptrack-rental-report","tag-real-estate","tag-real-estate-agency","tag-real-estate-agent","tag-real-estate-news","tag-rent","tag-rental","tag-veronica-silva"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>More than half a million people have left Australia during COVID-19. So why isn\u2019t there anywhere to rent? - Property News Australia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/propertynoise.co.nz\/au\/more-than-half-a-million-people-have-left-australia-during-covid-19-so-why-isnt-there-anywhere-to-rent\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"More than half a million people have left Australia during COVID-19. So why isn\u2019t there anywhere to rent? - Property News Australia\" \/>\n<meta property=\"og:description\" content=\"PHOTO: Rental crisis bites. FILE Veronica Silva is being turfedRead More &rarr;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/propertynoise.co.nz\/au\/more-than-half-a-million-people-have-left-australia-during-covid-19-so-why-isnt-there-anywhere-to-rent\/\" \/>\n<meta property=\"og:site_name\" content=\"Property News Australia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/PropertyNoiseNZ\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-28T00:15:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2015\/12\/\u2018Rentvesting\u2019-far-from-the-Great-Australian-Dream-for-many-first-homebuyers..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"650\" \/>\n\t<meta property=\"og:image:height\" content=\"366\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Property Noise Group\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@propertynoisenz\" \/>\n<meta name=\"twitter:site\" content=\"@propertynoisenz\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Property Noise Group\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/more-than-half-a-million-people-have-left-australia-during-covid-19-so-why-isnt-there-anywhere-to-rent\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/more-than-half-a-million-people-have-left-australia-during-covid-19-so-why-isnt-there-anywhere-to-rent\\\/\"},\"author\":{\"name\":\"Property Noise Group\",\"@id\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/#\\\/schema\\\/person\\\/175c8981af50e593000aa8ad7aab9d84\"},\"headline\":\"More than half a million people have left Australia during COVID-19. 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