What's the link between low rental vacancy rates, housing crises, and unoccupied home taxes?
ABCLast week's federal budget included a special chapter on Australia's housing crisis. They say the rental vacancy rate has fallen below 1.5 per cent, and 3 per cent is considered the rate that reflects a "balanced" rental market. He says what's called the "rental vacancy rate" is the number of rental So, if you read a story in the media that says the national vacancy rate has just fallen to its lowest level, then you can interpret that as telling you: "Of the nation's estimated 3.1 million rental homes, 24,000 of them were advertised online for more than three weeks based on website statistics over the past month." "The unemployment rate measures the number of people currently not working but actively seeking work, while the rental vacancy rate measures the number of dwellings soon to be unoccupied and actively seeking a new tenant," he says. But low rental vacancy rates are the mechanism by which rental prices adjust, just like low unemployment is the mechanism by which wages adjust," he says.
History of this topic
Housing crisis worsens as extreme conditions for renters described as 'needle in a haystack type stuff'
ABC
The charts that show how Australia’s rental market got so broken
ABC
Rental vacancy rates falling nationally and tipped to remain at 'extremely low levels'
ABC
The cost-of-living crisis has roots in property but whether you rent or pay a mortgage, there's a dark tunnel ahead
ABC
Australia's rental vacancy rate at lowest level since before COVID-19 pandemic
ABC
National rents soared by 10.2 per cent last year. Here’s how much rent costs in Australia’s most expensive and affordable suburbs
ABC
The reason why rents are soaring in Australia with double-digit increases for houses
Daily Mail
When homes earn more than jobs: How we lost control of Australian house prices and how to get it back
ABC
Rental vacancies rise in Sydney's CBD as coronavirus hits property market
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