Sunshine Coast’s rental crisis deepens with employees locked out of market

The Sunshine Coast’s affordable housing shortage is placing great stress on the business sector as workers struggle to find a place to live.

Maroochydore-based accountant Heidi Le Vesconte says she has struggled to find a suitable apartment to rent on the Sunshine Coast.

Workers are being locked out of the Sunshine Coast's housing market with affordability and availability causing stress and leading to long term impacts on the region's future growth, key industry bodies say.

With rental vacancy rates currently at less than one per cent, single renters are being forced to go into share houses to find a roof over their heads or pay a premium outside their budget.

That's the fate Maroochydore-based accountant Heidi Le Vesconte is faced with after struggling to find a suitable apartment to rent.

Ms Le Vesconte, 25, is in the process of relocating to the Coast from Brisbane but says rental prices have "gone through the roof".

"My employers are keen for me to relocate on a full-time basis but at this stage I can only work here two days a week because I can only find a share house which fits my budget," Ms Le Vesconte said.

"What you could have rented for around $300 per week a year ago has now skyrocketed to well over $400 per week."

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Maroochydore-based accountant Heidi Le Vesconte says the price of renting an apartment has skyrocketed past her budget.

Ms Le Vesconte said she was not alone in her predicament with friends and family across a range of industries enduring the same struggle.

"I would like to buy a home but if the prices keep rising I will be priced right out of the market unless I am prepared to wait until the market drops which isn't looking likely anytime soon," she said.

"It's difficult if you are single like me or you have a family and need somewhere bigger to live."

Real Estate Institute of Queensland Sunshine Coast zone chair Matt Diesel said unfortunately there was no letup in sight for renters like Ms Le Vesconte.

"That's going to be a challenge for tenants for the next little while, until there is more stock," Mr Diesel said.

He said in some cases the demand for rentals had increased prices.

"It does depend on the landlords, they can charge more for their property," he said.

It comes after the institute called for amendments the First Home Owner Grant to include existing houses as well as new houses units and townhouses.

The grant currently excludes existing houses.

Mr Diesel said changing that would help free up rentals.

Property Council Sunshine Coast committee chair Brad Williams said he knew of several cases where staff had not been able to secure suitable accommodation, impacting on their ability to secure work.

Mr Williams said while the issues were spread across the region, they were "more pertinent" north of the Maroochy River where there was a real "lack of housing product and diversity on offer".

"We certainly need to fast track some developable land north of the river or we will continue to feel the impact of our growing pains well into the foreseeable future," Mr Williams said.

Maroochydore Chamber of Commerce president Brendan Bathersby said the housing affordability and availability issue would continue to present red flags even though the local economy was buoyant.

"We need to take a long-term view of the situation, despite the fact that there appears to be a rising local economy," Mr Bathersby said.

"Major local projects, particularly the Maroochydore CBD and the Sunshine Coast Airport will require thousands more employees over the next 10 to 15 years, it's clear that bottlenecks are already in place so there's no doubt that long term planning is required."

Originally published as Sunshine Coast’s rental crisis deepens with employees locked out of market