These two charts show the worst of the rental crisis is over
Small shifts in behaviour can have a big effect. A jump in the number of homeowners welcoming flatmates has added the equivalent of 106,000 houses onto the market.
An advertisement for a “fully renovated” rental in Sydney’s west went viral on social media earlier this year after users noticed that the water source for its sole toilet was a garden hose connected to a nearby sink.
While the real estate agent quickly scrubbed the offending photo from the listing of the $750-a-week Auburn home, the image was widely distributed on a popular online forum dedicated to so-called “shit rentals”.
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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
