Prospective tenants are feeling the effects of a rental shortage in the region.RENEE THOMPSON February 28, 2014 4:13am
We spoke to renters, real estate agents and a landlord to take the temperature of the local rental market after a report on rental affordability and availability showed there was a tightening across regional Victoria.
A tightening rental market: report
A new Tenants Union of Victoria report on rental affordability and availability rates, released on Monday, said rental affordability was less critical in regional cities but found the regional vacancy rate for private rentals was only 2.7 per cent — lower than the metropolitan rate.
The report said the lower regional vacancy rate represented a ‘‘tighter, more competitive market’’ and demonstrated ‘‘the greater difficulty for low-income households to secure affordable housing’’.
Expensive, hard to come by: renters
Single mum Natalie* and her three children have been forced into living week-to-week at a Moama resort since the start of the year while they try to find a place to rent.
‘‘If we didn’t have that, we’d be facing relocation or homelessness,’’ she said.
Natalie said the fact she had to consider relocating somewhere else was not good for the town either.
‘‘For local sustainability, we need people to stay in this town,’’ she said.
‘‘I don’t see expensive investment properties with high rents as sustainable.’’
*Not real name
High demand, low supply: real estate agents
Real estate agents across Echuca-Moama overwhelmingly agree it is a tough time for prospective tenants trying to find a suitable place to rent.
Elders property manager Nataleigh Percy said demand for houses was strong.
‘‘We’re seeing 20-plus applications for three bedroom houses,’’ she said.
‘‘Also, because we’re a popular tourist spot, people are coming here and love it, decide to make a tree change then want to rent for a while before buying.’’
Good tenants: landlord
Echuca-Moama landlord Handel Aubrey said finding good tenants in the current rental market was easy.
‘‘If you get a reputable real estate agent they do the work and recommend good tenants,’’ he said.
‘‘Every property has a market value and that reflects what the rental should be.’’
Full stories in today’s Riverine Herald.
Shepparton’s Declo Bisimwa firmly believes education is the key to a better life.
Beautiful weather greeted Tungamah residents for the 18th running of the Tungamah Lions Ten Thousand on Sunday.
When Keith and Marion Grumley and their growing family moved to Tatura on January 18, 1968, little did they know that it would be the start of a long and lasting connection to the town.
Garners Boxing Gym in Echuca is encouraging young people to get active with weekly boxing/cardio classes.
Rochester Rotary Club has celebrated its 50th birthday in style.
Sorting future of Campaspe pools
A theatre production with a difference is coming to Seymour.
Local athletes will go head-to-head with some of the best competitors from around the world in swimming and athletics in December.
District residents and visitors will be able to enjoy some of the region’s most beautiful private gardens on Sunday.
The 116th annual Cobram Show went off with a bang at the weekend, drawing in crowds from far and wide for two days of fun.
Tomorrow is a Total Fire Ban day in Deniliquin, meaning no fires can be lit in the open and all fire permits are suspended.
Fifty new full-time jobs will be created at Tatura with a multimillion-dollar expansion of the abattoirs expected to be announced today.
Remembering Australian political giant Gough Whitlam who once called on Benalla police to stop then Treasurer Frank Crean on his journey up the Hume to phone the PM.
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