Yahoo Finance Rent crisis: Aussies overlooking these ‘hazardous’ property flaws
One in 10 Aussie tenants are putting up with mould issues to secure a rental.
With rent prices skyrocketing around the country, tenants are being forced to look past potentially dangerous property flaws in order to secure a rental.
Nearly three in five Aussie renters have excused an issue with a property for fear of missing out on a place to live, according to new Finder research.
About 21 per cent of the 1,110 people surveyed said they made compromises on the size of the property they required, while 14 per cent tolerated lack of amenities such as air conditioning or a laundry.
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Worryingly, one in 10 Aussies said they accepted a mould issue in a bid to secure a roof over their heads.
Finder home loan expert Richard Whitten said it was scary to see the number of renters living in below-par conditions.
“Tenants are having to lower their standards and accept some really unpleasant living situations,” Whitten said.
“Thousands are stuck in rentals which would be considered hazardous purely because there aren't enough properties available to rent in their area."
A further 9 per cent refrained from asking for repairs when they noticed damage that wasn’t on the property’s entry condition report, while 6 per cent said they put up with unpleasant smells in the property.
Rent crisis showing signs of easing
CoreLogic’s most recent Quarterly Rental Review found national vacancy rates had eased slightly over the quarter, from 1.1 per cent in March to 1.2 per cent in June, but were still well below the pre-pandemic decade average of 3.3 per cent.
The median rent across the country is now $589 per week, up 9.7 per cent, year on year, and $617 per week for capital cities, up 11.5 per cent.
Sydney remains the most expensive capital, with renters paying an average of $733 per week. Adelaide is the most affordable capital at $549 per week, followed by Melbourne at $551 per week.
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