‘Zombie Houses’ can save the Australian rental crisis
Australia needs a radical policy shift to solve the growing rental crisis. There is no end in sight for the current rental squeeze, especially with a return to high levels of immigration and international students to put further pressure on the rental market.
“With short stay rental accommodation options such as Airbnb taking so many home off the rental market, social housing today doesn’t solve the problem of those in need during this rental crisis,” First National Real Estate CEO Ray Ellis said.
“Investors do not want to deal with a long term tenant that pays them 600 a week when they can get $1000 a weekend or the equivalent of a year’s rent in holiday times.”
Ray Ellis said federal, state and local governments need to work together to solve the situation.”