A global housing crisis is intensifying due to a severe shortage of properties, driven by high immigration rates in countries like the US, Canada, Australia, and New Zealand. Renters are facing fierce competition and rising prices as housing approvals hit a decade low, leading to record-low vacancy rates. In Melbourne, the rental vacancy rate has plummeted to a worrying new low, with fewer than 6750 homes available for tenants in February, forcing desperate measures like house-sharing and individual room rentals in family-sized homes.
It’s a problem on the margins, just like non-resident foreigners buying residential real estate is also an issue. We have a housing emergency right now and must pull every single lever. https://t.co/hltesv4T0v
#Exclusive: Perth's rental squeeze has led to desperate measures, with more tenants forced to house-share to keep a roof over their heads. It comes as a new leasing trend emerges, with landlords renting out individual rooms in family-sized homes | @cyndilavrencic https://t.co/m4t3ELzfXP
Melbourne rent crisis Available homes to rental seekers plunges to worrying new low Fewer than 6750 homes were available to Victorian tenants in February as the rental vacancy rate plunged to a record low The data shows tenants have less time to lock in a lease with the…
‘Desperate’: Drop in Victorian rentals raises alarm bells https://t.co/peM2BqnHMN #rentcrisis #Melbourne #Melbrent
Renters face several more years of intense competition and price rises, as decade-low housing approvals and strong migration sends vacancy rates to a record low. FULL STORY: https://t.co/T6CPfH9Lxs https://t.co/iuIMqcBr9S
'The crisis is one of a dire shortage of properties to live in at a time of historically high rates of immigration that have fueled demand, from the US and Canada to Australia, New Zealand and others.' https://t.co/naN59jWdwG