{"id":42706,"date":"2023-03-31T10:10:49","date_gmt":"2023-03-30T21:10:49","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=42706"},"modified":"2023-03-31T10:10:49","modified_gmt":"2023-03-30T21:10:49","slug":"desperate-sunrise-host-reveals-rental-battle","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/desperate-sunrise-host-reveals-rental-battle\/","title":{"rendered":"\u2018Desperate\u2019: Sunrise host reveals rental battle"},"content":{"rendered":"

PHOTO: Monique Wright is among the \u2018desperate\u2019 Aussies looking for a rental. Picture: Sunrise<\/strong><\/p>\n

The Sunrise crew could not contain their shock when the co-host revealed the \u201cappalling\u201d situation she and other Aussies face.<\/p>\n

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Sunrise host Monique Wright has revealed she is among the many \u201cdesperate\u201d Aussies looking for a home amid the deepening rental crisis.<\/p>\n<\/div>\n

On Thursday morning, Wright told her co-hosts she had inspected multiple properties with no luck, describing the situation as \u201cappalling\u201d for renters\u00a0in any price range.<\/p>\n

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\u201cWe\u2019ve recently been looking, and we\u2019ve looked at 30 properties,\u201d she said.<\/p>\n

\u201cIt is appalling. It is so appalling.\u201d<\/p>\n

Co-hosts David Koch and Natalie Barr could not contain their shock at her revelation, which followed a package about the tricks house hunters are using to get around the ever-worsening crisis.<\/p>\n

\u201cYou see it. People are desperate. We\u2019ve been desperate,\u201d Wright said, adding it was happening to renters \u201cat every price point\u201d.<\/p>\n

The national vacancy rate has plummeted to record lows, meaning it is more difficult than ever for house hunters to put a roof over their heads.<\/p>\n

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Australia\u2019s national vacancy rate remained 0.8 per cent in February, with vacancy rates across the combined capitals declining to 0.7 per cent, according\u00a0to data from\u00a0<\/a>Domain<\/a><\/i>.<\/p>\n

In Sydney and Melbourne, vacancies declined to 0.9 per cent and 0.8 per cent, respectively \u2013 both dropping from 1.0 per cent in January.<\/p>\n

Meanwhile, Brisbane\u2019s vacancy rate dropped to 0.6 per cent (from 0.8 per cent) and Darwin to 1.2 per cent (from 1.3 per cent)<\/p>\n

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According to the data, Hobart is the only capital city to see an increase in its vacancy rate, climbing to 0.6 per cent.<\/p>\n

Meanwhile vacancies have held firm in Perth and Adelaide \u2013 both at 0.3 per cent, the tightest markets in the country \u2013 and Canberra, at 1.5 per cent.<\/p>\n

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Australia\u2019s rental market is the tightest it has ever been. Picture: Jeremy Piper\/NCA NewsWire<\/strong><\/em><\/div>\n

Data from the latest\u00a0Proptrack Market Insight\u00a0report has put the national rental vacancy rate at its lowest level since 2018.<\/p>\n

Report author and senior Proptrack economist Paul Ryan warned the forecast for the market is not so sunny, either, with the lack of supply set to drive \u201ccontinued rapid rent price increases over 2023\u201d.<\/p>\n

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\u201cAlmost all regions across the country have rental vacancy rates below 2 per cent \u2013 meaning less than 2 per cent of all rental properties are available for lease,\u201d Mr Ryan said.<\/p>\n

\u201cWith demand for rentals expected to remain strong, we see no reprieve for tenants in the coming months.\u201d<\/p>\n

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Rental inspections see huge queues of prospective tenants. Picture: Jeremy Piper\/NCA NewsWire<\/strong><\/em><\/div>\n

Although Melbourne now has a tighter rental market than Sydney, as it was pre-pandemic, landlords in the NSW capital have been some of the biggest beneficiaries of the rental squeeze.<\/p>\n

The\u00a0viral images of long queues, mass crowds, and gridlock suburban traffic thanks to and from auctions and house inspections in some of Sydney\u2019s most popular suburbs \u2013 which used to be shocking \u2013 are now relatively commonplace.<\/p>\n

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Queues of prospective tenants in Zetland, Coogee and Randwick have snaked around blocks to view properties, with dozens vying for small apartments \u2013 and, often, just as many having to be turned away.<\/p>\n

And even if renters are able to find a property within their budget and lodge an application,\u00a0they may be undone\u00a0by hundreds of other applicants \u201cbidding\u201d a much higher rent than the advertised price.<\/p>\n

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Applicants have resorted to \u2018bidding\u2019 up higher rents. Picture: Nicholas Eagar\/NCA NewsWire<\/strong><\/em><\/div>\n

Listing agent Scarlett Manttan of McGrath Property told news.com.au that every apartment that is up for rent in Sydney will receive more than 100 applications and 80 per cent of them\u00a0will be offered more\u00a0than the listed price \u2013 a practice which is outlawed in NSW.<\/p>\n

READ MORE VIA NEWS.COM.AU<\/a><\/p>\n

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