Australia’s rental vacancy rate at just 1.7%
The Everybody’s Home campaign is calling on the Federal Government to make an urgent investment in social housing as rental vacancy rates across Australia remain low.
Australia’s national vacancy has decreased by nearly a third over the last 12 months and is currently sitting at 1.7 per cent.
Everybody’s Home spokesperson Professor David Adamson says that rate is expected to decrease even further over the course of the next month.
“We usually see stronger demand in January so that vacancy rate will lower even further.” Professor Adamson said.
Vacancy rates are much lower in many state capitals, with Hobart’s vacancy rate sitting at 0.3 per cent, 0.4 per cent in Adelaide and 0.6 per cent in Perth.
Victoria, Queensland, Tasmania and Western Australia have invested up to $10 billion over the next few years to build social housing.
Without Federal Government investment, there will still be a shortfall of over 200,000 households who will be in need of social and affordable housing.
“The situation really is dire for those on low incomes, with very few affordable rentals available. Through a lack of investment in social housing, the Federal Government has created a housing crisis.”
“The only way to alleviate this crisis is for the Federal Government to step in and build social housing. While some state governments have made their own investments, only the Federal Government has the fiscal firepower needed to make a significant difference” Professor Adamson said.
Media release: Levi Joule 048 111 2074