ALL THINGS PROPERTY ON THE AIR - EPISODE 2

The Sunshine Coast brewed the perfect storm for a rental crisis, the signs of which we saw coming over 10 years ago. What’s happening on the Sunshine Coast now is not as a result of COVID, rather COVID was like the accelerant to a fire that was already lit. COVID’s disruption appears to have masked…

The Sunshine Coast brewed the perfect storm for a rental crisis, the signs of which we saw coming over 10 years ago. What’s happening on the Sunshine Coast now is not as a result of COVID, rather COVID was like the accelerant to a fire that was already lit. COVID’s disruption appears to have masked the actual problems of a growing undersupply of housing.

When predicting this outcome 10 years ago we used a robust method of identifying sources, qualifying those sources and their data, and developing potential outcomes based on a range of factors. With our market intelligence, we looked at all the infrastructure that was coming, all the people that would come and we believed the population growth estimates were wrong – far too conservative. Based on the modelling we could see that housing supply would not keep up with demand if the same approvals and datasets being used by decision-makers didn’t change.

Here we are now living through a rental crisis with increasing rent prices and vacancy rates pretty much zero. It’s going to go on for a while because the harsh reality is that there isn’t a solution on the horizon.

The issue is not landlords putting up rents – oftentimes it’s tenants competing and outbidding one another. This is happening because there is not enough housing to meet the demand for people relocating to this region and so people compete for the very few available properties.

So what do we do? Well, Mal addresses this and so much more in the series of podcasts with Hot91.1 ‘All Things Property’
Listen here to episodes.
https://www.hot91.com.au/all-things-property