Rental prices are continuing to increase around the country placing even more stress on tenants. Brisbane residents have been hit with an unprecedented streak of rent hikes.
Category
📺
TVTranscript
00:00 Renters are feeling the pinch in an already competitive market.
00:07 Applicants searching for a new address are willing to go the extra mile.
00:11 We've gotten our application pretty airtight and we're not even getting a look in.
00:15 Harry Tyrrell recently moved to Brisbane from Melbourne with his partner.
00:19 They're now keen to secure a lease.
00:22 That's the general consensus that we get, that everybody out there is actually offering a fair, substantial amount more than what is advertised.
00:29 It's a similar story for Chloe Heard, looking for a change after three years.
00:34 Move closer to work perhaps and maybe adopt a dog, so looking for maybe a house, I'm in an apartment at the moment.
00:41 Her rent has increased twice.
00:43 It went up to $470 and now it's $500. And it's just recently gone on the market and now it's up to $600.
00:50 New figures show the price of renting is continuing to increase across the country.
00:54 Brisbane has been hit particularly hard with the cost of renting a unit going up across 10 consecutive quarters.
01:01 This is now the longest and the steepest stretch of rising asking rents that the City of Brisbane has ever experienced.
01:09 The tight conditions come down to basic economics, a shortage in the supply of rental properties and an increasing number of applicants.
01:17 Rocking up to every inspection there's been about 40 to 50 people looking at the same property, so that can be a bit disheartening.
01:25 Despite the squeeze, real estate agents have an optimistic message.
01:29 If you like it, put in an application and we will look through all of them and you may just be the one that gets it.
01:34 be the one that gets it.
01:34 [BLANK_AUDIO]