Real cause of Australia’s dire rental crisis revealed. Ray Ellis speaks with news.com.au
The great policy flaw behind Australia’s rent crisis has been revealed – and it’s a problem that runs much deeper than current economic woes.
The cause of Australia’s worsening rental crisis runs far deeper than the economic pressures behind rising interest rates and soaring inflation, a prominent real estate expert has revealed.
Ray Ellis says the crisis will deepen without swift action from state governments on social housing and new build “red tape”.
Mr Ellis, former director of the Real Estate Institute of Australia and First National Real Estate chief executive, warned Australia has nowhere near enough homes to cater for its population, let alone accommodate migration increasing in the wake of the Covid pandemic.