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.
Street Rider Night Bus signs have been placed in Shepparton’s central business district to encourage people to use the service that has been cruising along for more than five years.
Police are currently at the scene of a double fatal collision involving two cars in at the Cahill Road, Gilmore Street and Woods Road intersection in Yarrawonga.
Tatura Community House held its annual High Tea fundraiser at the facility on Tuesday, with a full-house present to enjoy a sumptuous morning tea, good conversation and relaxing time together.
The Echuca construction team behind Junction Moama has taken out one of the top honours at a regional building awards ceremony.
Rochester Historical and Pioneer Society hosted an afternoon tea to recognise long-standing members Barrie and Flora Griffin and John and Margaret Harley.
About 7600 residents served by Goulburn Valley Water are affected by a boil-water advisory.
Scone Equine Hospital relaunches local veterinary practice.
A beauty pamper day has raised a whopping $18k to assist local lady Terri Bevan with her ongoing medical costs associated with her brain tumour
A planning scheme amendment to allow the expansion and redevelopment of the IGA supermarket at Heathcote has been approved by the Victorian Planning Minister Richard Wynne.
Cross-border rivals Cobram and Barooga football netball clubs will contest the 38th Cobram Courier Shield this weekend.
An exciting three-hole playoff saw Virginia Lange take a narrow win in the Deniliquin Ladies Golf Championship last Thursday.
The G-MW Murray gravity irrigation system has received 35 per cent and the Goulburn system 42 per cent of allocation from July 1.
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