{"id":13722,"date":"2021-04-13T10:33:08","date_gmt":"2021-04-13T03:33:08","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=11971"},"modified":"2021-06-04T16:11:51","modified_gmt":"2021-06-04T09:11:51","slug":"australians-offer-up-to-100-extra-per-week-to-secure-a-home","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/australians-offer-up-to-100-extra-per-week-to-secure-a-home\/","title":{"rendered":"Australians offer up to $100 extra per week to secure a home"},"content":{"rendered":"<p><span data-contrast=\"auto\">Tenants are agreeing to rental\u00a0<\/span><span data-contrast=\"auto\">increases<\/span><span data-contrast=\"auto\">\u00a0due to the shortage of rental\u00a0properties\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<figure id=\"attachment_11972\" aria-describedby=\"caption-attachment-11972\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"wp-image-11972 size-full\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/04\/processed-1-1.jpeg\" alt=\"\" width=\"1000\" height=\"750\" \/><figcaption id=\"caption-attachment-11972\" class=\"wp-caption-text\">Landlords have been spiking rents in Western Australia since March 29. ShuangLi\/Shutterstock<\/figcaption><\/figure>\n<p><span data-contrast=\"auto\">According to <a href=\"https:\/\/www.domain.com.au\/news\/two-speed-rental-market-tenants-offer-up-to-100-more-a-week-to-secure-properties-as-moratoriums-lift-1043129\/\" target=\"_blank\" rel=\"noopener\">Domain<\/a>, tenants in some Australian capital cities are willing to pay up to AUD100\u00a0<\/span><span data-contrast=\"auto\">extra\u00a0<\/span><span data-contrast=\"auto\">per week\u00a0<\/span><span data-contrast=\"auto\">in rent to lock down sought-after rental properties,\u00a0<\/span><span data-contrast=\"auto\">as eviction moratoriums end.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Despite major capital cities such as Melbourne and Sydney are experiencing elevated rental vacancy rates of three and 4.6 percent respectively, due to the loss of international students,\u00a0<\/span><span data-contrast=\"auto\">options are few elsewhere with dozens of potential renters turning up to open homes.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">At the peak of the pandemic last year, Australian states and territories implemented bans on evictions and rental increases to help tenants, as their incomes dry up from job losses<\/span><span data-contrast=\"auto\">. However, as bans of rent hikes expire, some\u00a0<\/span><span data-contrast=\"auto\">landlords<\/span><span data-contrast=\"auto\">\u00a0are taking this golden time to raise their asking prices.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">As mentioned by Joe\u00a0<\/span><span data-contrast=\"auto\">Hotchin<\/span><span data-contrast=\"auto\">-Lott, leasing consultant at Arena Real Estate Agents leasing, tenants in Perth are offering anywhere from AUD30-AUD100 extra per week to secure a home due to the shortage of rental properties. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Hotchin<\/span><span data-contrast=\"auto\">-Lott added that landlords have been spiking rents in Western Australia since March 29, and tenants were agreeing to the increa<\/span><span data-contrast=\"auto\">ses and\u00a0<\/span><span data-contrast=\"auto\">renewing<\/span><span data-contrast=\"auto\">\u00a0their leases<\/span><span data-contrast=\"auto\">\u00a0as there were so few homes to choose from.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">\u201cWhen you have that 12-month block [on rent rises], we\u2019re seeing those rent increases appearing in large blocks,\u201d he said. \u201cNormally you can budget for a $20 or $30 increase but when you see a $50 increase people are getting a bit scared.\u201d<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">In Hobart, a<\/span><span data-contrast=\"auto\">s soon as the moratorium was lifted, many landlords took advantage of the rising rents while others acted <\/span><span data-contrast=\"auto\">against it.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Bec MacGregor, head of property management at Ray White Hobart, said, \u201cAs soon as that [moratorium] was lifted on February 1 the [landlords\u2019] expectations were that their rents should be increased.\u00a0I\u2019ve had a couple of other owners who have said people are still trying to find their feet so we will look at rent increases next year.\u201d<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/en\/australias-booming-property-prices-drive-the-surge-in-wealth\/\" target=\"_blank\" rel=\"noopener\"><strong>More: Australia\u2019s booming property prices drive the surge in wealth<\/strong><\/a><\/p>\n<p><span data-contrast=\"auto\">Moreover, returning DFAT personnel from overseas and various embassy staff extending their leases in Canberra were compressing the availability of rentals with vacan<\/span><span data-contrast=\"auto\">cy\u00a0<\/span><span data-contrast=\"auto\">rates tightening to 0.7 percent from 0.9 percent.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Brie Purnell, head of property management at Purnell, said that a strong jobs market in the capital meant many tenants <\/span><span data-contrast=\"auto\">weren\u2019t heavily affected<\/span><span data-contrast=\"auto\">. Only a fraction of tenants requested a rent reduction during the pandemic.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">\u201cThe majority of our tenants are public servants as a result of parliament house and government departments around these inner suburbs,\u201d she said. \u201cA lot of our tenants\u2019 employment remained quite secure.\u201d<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tenants are agreeing to rental\u00a0increases\u00a0due to the shortage of rental\u00a0properties\u00a0\u00a0<\/p>\n","protected":false},"author":12,"featured_media":19694,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[149,1301,557,900],"class_list":["post-13722","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-australia","tag-price-hike","tag-property-market","tag-rental","news_country-australia","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Australians offer up to $100 extra per week to secure a home | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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