{"id":40231,"date":"2022-09-15T08:44:07","date_gmt":"2022-09-14T20:44:07","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=40231"},"modified":"2022-09-15T08:44:07","modified_gmt":"2022-09-14T20:44:07","slug":"500-a-week-for-a-dog-kennel-the-current-rental-crisis-is-probably-the-worst-on-record","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/500-a-week-for-a-dog-kennel-the-current-rental-crisis-is-probably-the-worst-on-record\/","title":{"rendered":"&#8216;$500 a week for a dog kennel&#8217;: The current rental crisis is probably the worst on record"},"content":{"rendered":"<p><strong>PHOTO: For Lease<\/strong><\/p>\n<p class=\"_1g_Rg\">Pensioner Gordon Balfour Haynes\u00a0lived in the Northern Rivers region of New South Wales for most of his 73 years.<\/p>\n<div class=\"_3qLh5 _sBMB _1ilWc\">\n<section class=\"_3xJds _3tgJi\" role=\"contentinfo\" aria-label=\"key points\" data-component=\"KeyPoints\" data-uri=\"coremedia:\/\/teaser\/101435274\">\n<h2 class=\"_1EAJU hMmqO _316gH _1zBDU _1BqKa _2AH39 _3HiTE x9R1x pDrMR hmFfs _390V1\" data-component=\"Heading\">Key points:<\/h2>\n<ul class=\"qkR3W\" role=\"list\" data-component=\"List\">\n<li class=\"\" data-component=\"ListItem\">The national vacancy rental rate\u00a0dropped to 0.9 per cent in August<\/li>\n<li class=\"\" data-component=\"ListItem\">It is the lowest rate since 2006<\/li>\n<li class=\"\" data-component=\"ListItem\">Rents are continuing to go up<\/li>\n<\/ul>\n<\/section>\n<\/div>\n<p class=\"_1g_Rg\">But several months ago he packed up his life and moved 900 kilometres across the country in search of an affordable rental.<\/p>\n<p class=\"_1g_Rg\">The move was prompted by his landlord of five years increasing the\u00a0rent by $100 a week, to $450, which\u00a0would account for about 90 per cent of his pension.<\/p>\n<p class=\"_1g_Rg\">He couldn&#8217;t afford to stay in the property and when he looked in the area for alternatives, there were none.<\/p>\n<p class=\"_1g_Rg\">&#8220;Absolutely nothing. The cheapest I could\u00a0find was about $500 a week and that was for a dog kennel,&#8221; Mr Haynes\u00a0said.<\/p>\n<h2 class=\"_1EAJU hMmqO SYcM3 zwVFG _1BqKa _3AExf _3HiTE x9R1x pDrMR hmFfs _390V1\" data-component=\"Heading\">National rental vacancy rates fall below 1 per cent<\/h2>\n<figure class=\"_247xw _3qLh5 _sBMB _3pBTa\" role=\"group\" data-print=\"inline-media\" aria-labelledby=\"101437920\" data-component=\"Figure\" data-uri=\"coremedia:\/\/imageproxy\/101437920\">\n<div class=\"_3poXF\">\n<div class=\"_1Axyg\" data-component=\"AspectRatioContainer\"><img decoding=\"async\" class=\"jMqWO _1PHKk\" src=\"https:\/\/live-production.wcms.abc-cdn.net.au\/276e2a5053f5d818bf8d91b020d14c35?impolicy=wcms_crop_resize&amp;cropH=1563&amp;cropW=2348&amp;xPos=0&amp;yPos=1402&amp;width=862&amp;height=575\" sizes=\"100vw\" alt=\"Apartment advertised for rent in the Sydney suburb of Darlinghurst.\" data-component=\"Image\" data-lazy=\"true\" \/><\/div>\n<\/div><figcaption id=\"101437920\" class=\"_1EAJU _2_dbS _2L258 _14LIk _3pVeq hmFfs _2F43D\" data-component=\"Figure__figcaption\"><em><strong>Rental vacancy rates across the capital cities are only above 1 per cent in Sydney and Melbourne.<cite class=\"_1EAJU _1ftZy _2L258 _14LIk _3pVeq hmFfs _2F43D\" data-component=\"Figure__cite\">(<span class=\"_1EAJU _1s6pr _2L258 _1BqKa _3pVeq hmFfs _2F43D\" data-component=\"Byline\"><span class=\"_1EAJU _2L258 _14LIk _3pVeq hmFfs _2F43D\" data-component=\"Text\">ABC News: Michael Janda<\/span><\/span>)<\/cite><\/strong><\/em><\/figcaption><\/figure>\n<p class=\"_1g_Rg\">It is a similar story across the country, with national rental vacancy rates falling to 0.9 per cent in August, according to SQM Research.<\/p>\n<p class=\"_1g_Rg\">It is the\u00a0lowest rate since 2006.<\/p>\n<p class=\"_1g_Rg\">&#8220;This is extraordinarily broad-based. And that&#8217;s something I have not seen before in our data,&#8221; said SQM Research&#8217;s Louis Christopher.<\/p>\n<p class=\"_1g_Rg\">&#8220;It was a tight rental market back in early 2006, however, I\u00a0would argue the rental vacancy rates we&#8217;re recording now are far more tight when you consider a six monthly period.&#8221;<\/p>\n<aside class=\"_3qLh5 _sBMB _21naB\" title=\"Vacancy rates\" data-component=\"LegacyWysiwyg\" data-print=\"inline-media\" data-uri=\"coremedia:\/\/teaser\/101435216\">\n<h2 class=\"_1EAJU hMmqO _316gH _1zBDU _1BqKa _2AH39 _3HiTE x9R1x pDrMR hmFfs _390V1\" data-component=\"Heading\">Vacancy Rates: August 2022<\/h2>\n<ul class=\"_3qLh5 _2xkKe qkR3W\" role=\"list\" data-component=\"List\">\n<li class=\"\" data-component=\"ListItem\">Sydney 1.3% (10,502 properties)<\/li>\n<li class=\"\" data-component=\"ListItem\">Melbourne 1.4% (9,356 properties)<\/li>\n<li class=\"\" data-component=\"ListItem\">Brisbane 0.7 % (2,382 properties)<\/li>\n<li class=\"\" data-component=\"ListItem\">Perth 0.4% (992 properties)<\/li>\n<li class=\"\" data-component=\"ListItem\">Adelaide 0.3% (691 properties)<\/li>\n<li class=\"\" data-component=\"ListItem\">Canberra 0.9% (633 properties)<\/li>\n<li class=\"\" data-component=\"ListItem\">Darwin 0.6 % (215 properties)<\/li>\n<li class=\"\" data-component=\"ListItem\">Hobart 0.5% (157 properties)<\/li>\n<\/ul>\n<p class=\"_1g_Rg\"><em><strong>Source: SQM Research<\/strong><\/em><\/p>\n<\/aside>\n<p class=\"_1g_Rg\">Louis Christopher says rents continue to go up, with capital city\u00a0rents up 2.6 per cent in the last 30 days, taking the\u00a0one year total increase to\u00a020.1 per cent.<\/p>\n<p class=\"_1g_Rg\">&#8220;It&#8217;s one more nail in the coffin of life affordability for the average Australian who is facing pressures on all fronts,&#8221; said\u00a0economist Nicky Hutley.<\/p>\n<p class=\"_1g_Rg\">&#8220;Rental stress is when you&#8217;re paying more than 30 per cent of your household income on rent. There are lots of people out there paying 40-50 per cent.&#8221;<\/p>\n<p class=\"_1g_Rg\">And vacancy rates could get worse, with SQM Research predicting another fall in the September data.<\/p>\n<div class=\"entry-featured-img-wrap\"><a class=\"entry-featured-img-link\" href=\"https:\/\/propertynoise.co.nz\/au\/they-mean-business-million-dollar-listing-stars-josh-and-matt-altman-are-greeted-by-glamorous-aussie-real-estate-agent\/\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-hoot-medium-thumb  entry-content-featured-img entry-grid-featured-img wp-post-image lazyloaded\" src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2022\/09\/Tina-OConnor-460x270.jpg\" alt=\"Tina O'Connor\" width=\"460\" height=\"270\" data-src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2022\/09\/Tina-OConnor-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\/they-mean-business-million-dollar-listing-stars-josh-and-matt-altman-are-greeted-by-glamorous-aussie-real-estate-agent\/\" rel=\"bookmark\">They mean business! Million Dollar Listing stars Josh and Matt Altman are greeted by glamorous Aussie real estate agent<\/a><\/h2>\n<\/header>\n<\/div>\n<h2 class=\"_1EAJU hMmqO SYcM3 zwVFG _1BqKa _3AExf _3HiTE x9R1x pDrMR hmFfs _390V1\" data-component=\"Heading\">Landlords prefer short term rentals<\/h2>\n<p class=\"_1g_Rg\">While there are a number of reasons leading to the low rates (including lack of supply, delay in new builds, changes to lifestyle during COVID-19) much of it is caused by landlords turning to short-term rentals.<\/p>\n<p class=\"_1g_Rg\">&#8220;It&#8217;s pretty clear more and more landlords are deciding\u00a0to lease their property in the short-term leasing market rather than the long-term leasing market,&#8221; he said.<\/p>\n<figure class=\"_247xw _3qLh5 _sBMB _1ilWc\" role=\"group\" data-print=\"inline-media\" aria-labelledby=\"101434922\" data-component=\"Figure\" data-uri=\"coremedia:\/\/imageproxy\/101434922\">\n<div class=\"_3poXF\">\n<div class=\"_1Axyg\" data-component=\"AspectRatioContainer\"><img decoding=\"async\" class=\"jMqWO _1PHKk\" src=\"https:\/\/live-production.wcms.abc-cdn.net.au\/fee676edb1a1c911ed1270571d3e8b25?impolicy=wcms_crop_resize&amp;cropH=1181&amp;cropW=1181&amp;xPos=0&amp;yPos=31&amp;width=862&amp;height=862\" sizes=\"100vw\" alt=\"A black and white photo of a man in his 70s with glasses and a cap.\" data-component=\"Image\" data-lazy=\"true\" \/><\/div>\n<\/div><figcaption id=\"101434922\" class=\"_1EAJU _2_dbS _2L258 _14LIk _3pVeq hmFfs _2F43D\" data-component=\"Figure__figcaption\"><em><strong>Gordon Balfour Haynes lived in the Northern Rivers area\u00a0of New South Wales for most of his life.<cite class=\"_1EAJU _1ftZy _2L258 _14LIk _3pVeq hmFfs _2F43D\" data-component=\"Figure__cite\">(<span class=\"_1EAJU _1s6pr _2L258 _1BqKa _3pVeq hmFfs _2F43D\" data-component=\"Byline\"><span class=\"_1EAJU _2L258 _14LIk _3pVeq hmFfs _2F43D\" data-component=\"Text\">Supplied: Eve Jeffery<\/span><\/span>)<\/cite><\/strong><\/em><\/figcaption><\/figure>\n<p class=\"_1g_Rg\">That&#8217;s what Gordon Balfour Haynes thought was happening in the Northern Rivers, which is a popular tourist area.<\/p>\n<p class=\"_1g_Rg\">&#8220;Eventually, I concluded that I had to leave the area for somewhere far away and less expensive,&#8221; he said.<\/p>\n<div class=\"entry-featured-img-wrap\"><a class=\"entry-featured-img-link\" href=\"https:\/\/propertynoise.co.nz\/au\/nrl-finals-stars-making-big-bucks-off-the-field\/\"><img decoding=\"async\" class=\"attachment-hoot-medium-thumb  entry-content-featured-img entry-grid-featured-img wp-post-image lazyloaded\" src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2022\/09\/NRL-players-are-proving-astute-in-the-property-game-too-460x270.jpg\" alt=\"NRL players are proving astute in the property game too\" width=\"460\" height=\"270\" data-src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2022\/09\/NRL-players-are-proving-astute-in-the-property-game-too-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\/nrl-finals-stars-making-big-bucks-off-the-field\/\" rel=\"bookmark\">NRL finals stars making big bucks off the field<\/a><\/h2>\n<\/header>\n<\/div>\n<aside class=\"_3qLh5 _sBMB _1ilWc cj-aC\" data-component=\"RelatedCard\" data-uri=\"coremedia:\/\/article\/101437952\">\n<div class=\"_8ozWK\" data-component=\"CardBox\">\n<h3 class=\"_1EAJU hMmqO MaLKt NHr4j _316gH _1zBDU _1BqKa _2AH39 _3HiTE x9R1x pDrMR hmFfs _390V1\" data-component=\"CardHeading\"><span class=\"_3agD2\" data-component=\"KeyboardFocus\">When can your landlord increase your rent?<\/span><\/h3>\n<div class=\"_2mnnz _1vrxI _1Gx7i _2gSqv\" data-component=\"CardLayout\">\n<div class=\"_16eiR\">\n<p class=\"_1EAJU _3V31R _2L258 _1BqKa _25ANV hmFfs\" data-component=\"Typography\">Inflation is pushing up interest rates. Interest rates are pushing up mortgage costs. There&#8217;s talk of a rental supply crisis. This means there&#8217;s a good chance your landlord wants to increase your rent. Where do you stand?<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/aside>\n<p class=\"_1g_Rg\">After broadening his search\u00a0widely, he found a place he could afford\u00a0in a small village (with only two dozen people) near Cowra in the central west of New South Wales.<\/p>\n<p class=\"_1g_Rg\">&#8220;I found it on Gumtree,&#8221; he explained. &#8220;I was hot off the mark in responding.&#8221;<\/p>\n<p class=\"_1g_Rg\">It has no potable water and the build is unfinished, but it only costs him $225 \u2014\u00a0far less than his previous rent.<\/p>\n<p>READ MORE VIA <a href=\"https:\/\/www.abc.net.au\/news\/2022-09-14\/pensioner-moves-900-kilometres-in-search-of-affordable-rental\/101433878\">ABC<\/a><\/p>\n<h3 class=\"widget-title\"><span class=\"accent-typo\">MOST POPULAR IN NEW ZEALAND<\/span><\/h3>\n<ul class=\"wpp-list wpp-list-with-thumbnails\">\n<li><a href=\"https:\/\/www.propertynoise.co.nz\/new-property-tv-show-rich-listers\/\" 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\/94980-featured-75x75.jpg\" data-srcset=\"https:\/\/sp-ao.shortpixel.ai\/client\/to_webp,q_glossy,ret_img\/https:\/\/www.propertynoise.co.nz\/wp-content\/uploads\/wordpress-popular-posts\/94980-featured-75x75.jpg, https:\/\/sp-ao.shortpixel.ai\/client\/to_webp,q_glossy,ret_img\/https:\/\/www.propertynoise.co.nz\/wp-content\/uploads\/wordpress-popular-posts\/94980-featured-75x75@1.5x.jpg 1.5x, https:\/\/sp-ao.shortpixel.ai\/client\/to_webp,q_glossy,ret_img\/https:\/\/www.propertynoise.co.nz\/wp-content\/uploads\/wordpress-popular-posts\/94980-featured-75x75@2x.jpg 2x, https:\/\/sp-ao.shortpixel.ai\/client\/to_webp,q_glossy,ret_img\/https:\/\/www.propertynoise.co.nz\/wp-content\/uploads\/wordpress-popular-posts\/94980-featured-75x75@2.5x.jpg 2.5x, https:\/\/sp-ao.shortpixel.ai\/client\/to_webp,q_glossy,ret_img\/https:\/\/www.propertynoise.co.nz\/wp-content\/uploads\/wordpress-popular-posts\/94980-featured-75x75@3x.jpg 3x\" alt=\"Real Estate Agents\" width=\"75\" height=\"75\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75\/75;\" \/><\/a><a class=\"wpp-post-title\" href=\"https:\/\/www.propertynoise.co.nz\/new-property-tv-show-rich-listers\/\" target=\"_self\" rel=\"noopener\">New kiwi Property TV Show: RICH LISTERS<\/a><\/li>\n<li><a href=\"https:\/\/www.propertynoise.co.nz\/queen-elizabeth-ii-death-king-charles-iii-to-inherit-huge-33-billion-property-portfolio\/\" target=\"_self\" rel=\"noopener\"><img decoding=\"async\" class=\"wpp-thumbnail wpp_featured wpp_cached_thumb lazyload\" 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https:\/\/sp-ao.shortpixel.ai\/client\/to_webp,q_glossy,ret_img\/https:\/\/www.propertynoise.co.nz\/wp-content\/uploads\/wordpress-popular-posts\/95886-featured-75x75@3x.jpg 3x\" alt=\"Queen Elizabeth II\" width=\"75\" height=\"75\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75\/75;\" \/><\/a><a class=\"wpp-post-title\" href=\"https:\/\/www.propertynoise.co.nz\/queen-elizabeth-ii-death-king-charles-iii-to-inherit-huge-33-billion-property-portfolio\/\" target=\"_self\" rel=\"noopener\">Queen Elizabeth II death: King Charles III to inherit huge $33 billion property portfolio<\/a><\/li>\n<li><a href=\"https:\/\/www.propertynoise.co.nz\/rich-listers-the-kiwi-real-estate-reality-series\/\" 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\/95892-featured-75x75.jpg\" data-srcset=\"https:\/\/sp-ao.shortpixel.ai\/client\/to_webp,q_glossy,ret_img\/https:\/\/www.propertynoise.co.nz\/wp-content\/uploads\/wordpress-popular-posts\/95892-featured-75x75.jpg, https:\/\/sp-ao.shortpixel.ai\/client\/to_webp,q_glossy,ret_img\/https:\/\/www.propertynoise.co.nz\/wp-content\/uploads\/wordpress-popular-posts\/95892-featured-75x75@1.5x.jpg 1.5x, https:\/\/sp-ao.shortpixel.ai\/client\/to_webp,q_glossy,ret_img\/https:\/\/www.propertynoise.co.nz\/wp-content\/uploads\/wordpress-popular-posts\/95892-featured-75x75@2x.jpg 2x, https:\/\/sp-ao.shortpixel.ai\/client\/to_webp,q_glossy,ret_img\/https:\/\/www.propertynoise.co.nz\/wp-content\/uploads\/wordpress-popular-posts\/95892-featured-75x75@2.5x.jpg 2.5x, https:\/\/sp-ao.shortpixel.ai\/client\/to_webp,q_glossy,ret_img\/https:\/\/www.propertynoise.co.nz\/wp-content\/uploads\/wordpress-popular-posts\/95892-featured-75x75@3x.jpg 3x\" alt=\"Former Miss Universe New Zealand Holly Cassidy\" width=\"75\" height=\"75\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75\/75;\" \/><\/a><a class=\"wpp-post-title\" href=\"https:\/\/www.propertynoise.co.nz\/rich-listers-the-kiwi-real-estate-reality-series\/\" target=\"_self\" rel=\"noopener\">Rich Listers: The KIWI real estate reality series<\/a><\/li>\n<li><a href=\"https:\/\/www.propertynoise.co.nz\/max-key-talks-about-how-being-a-property-developer-and-doing-jiu-jitsu-has-helped-his-mental-health\/\" 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\/95837-featured-75x75.jpg\" data-srcset=\"https:\/\/sp-ao.shortpixel.ai\/client\/to_webp,q_glossy,ret_img\/https:\/\/www.propertynoise.co.nz\/wp-content\/uploads\/wordpress-popular-posts\/95837-featured-75x75.jpg, https:\/\/sp-ao.shortpixel.ai\/client\/to_webp,q_glossy,ret_img\/https:\/\/www.propertynoise.co.nz\/wp-content\/uploads\/wordpress-popular-posts\/95837-featured-75x75@1.5x.jpg 1.5x, https:\/\/sp-ao.shortpixel.ai\/client\/to_webp,q_glossy,ret_img\/https:\/\/www.propertynoise.co.nz\/wp-content\/uploads\/wordpress-popular-posts\/95837-featured-75x75@2x.jpg 2x, https:\/\/sp-ao.shortpixel.ai\/client\/to_webp,q_glossy,ret_img\/https:\/\/www.propertynoise.co.nz\/wp-content\/uploads\/wordpress-popular-posts\/95837-featured-75x75@2.5x.jpg 2.5x, 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