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No relief on the way for regional renters according to property data and analytics expert

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Australia's housing crisis continues to plague tenants and home seekers, with many individuals intending to join the long queues of regional Aussies already struggling to secure rental properties.



Founder of market research platform Suburbtrends, Kent Lardner, appeared on Flow FM's Country Viewpoint to discuss the current rent pain many Australians are currently enduring amid Australia's housing crisis, including those based in regional areas.


"There's not a lot in the pipeline, most of the pipeline supply which is building approval - they are very very low, a typical developer will be telling you how hard it is to try and develop at the brink, a lot of builders are at the brink," Lardner said.


"So, there's a problem and we've got a pipeline supply with building approvals relative to population growth below where it needs to be, the other problem we do have is a lot of those approvals don't get completed, so then we have to apply the completion rate which makes the problem worse, t's a problem."


According to Lardner's market research, South Australia, Queensland and New South Wales are currently the three most difficult states to be based in as a prospective or current tenant with regards to financial viability and rental offerings.


"One of the key metrics is how much rent has increased...I've also looked at how much of your weekly household income is being allocated to rent and when that gets above 30%, it becomes a bit of a problem and it's severely unaffordable by global standards...I've looked at a couple of other key metrics as well, vacancy rate and how they've increased or decreased and when vacancy rates are low and decreasing, that's putting even further pressure on prices going up," Lardner said.


"So, as a result we have a lot of places across the country feeling the pinch with a lot of their household income being allocated to the weekly rent."







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