New report reveals toughest areas to find a rental

Real estate experts have expressed concern that some suburbs across the nation had just a single advertised rental in December.

In December, 17 postcodes across Australia had just one rental property advertised. Picture: NCA NewsWire/Nikki Short

The toughest postcodes in which to secure a rental have been revealed, with real estate experts describing it as “horrifying” that most states had areas where just one property was advertised in all of December.

Suburbs in Victoria’s Yarra Ranges, including Upwey and Montrose, had just one rental available in December, as did Moorabool, Batesford, Lovely Banks and Anakie in Geelong, research by MCG Quantity Surveyors shows.

The Cardinia, Banyule, Daylesford, East Gippsland and Ballarat local government areas had only two listed properties.

NSW’s Sutherland, Clarence Valley, Armidale and Inverrell areas also had one rental available in some localities.

In Queensland, areas in the Ipswich hinterland, and popular regional destinations in Rockhampton and Mackay, had just one advertised property.

According to the report, a total of 17 postcodes had just one rental property advertised.

In South Australia, greater Adelaide suburbs in Onkaparinga and Charles Sturt had just two rentals, and several towns on the Eyre Peninsula and Kangaroo Island had a single listing.

The quantity surveyor’s managing director Mike Mortlock said while the figures painted a picture of Australia’s rental crisis, it also highlighted potential for property investment.

“It’s an opportunity for investors who are looking for tight markets. I suppose it’s hard for people to consider investors as being part of the solution, given that investors are providing more than two thirds of rental accommodation,” Mr Mortlock told The Weekend Australian.

“We’ve seen a lot of liquidations and there is a huge undersupply of construction labour. The quickest way out of this problem is to encourage investors looking for tight markets.”

Mr Mortlock said investors were most active in snatching up properties in Queensland and WA, but have shunned Victoria over its new land tax policy.

“I don’t think property investors need to be incentivised. Right now It’s just not disincentivising and demonising them because right now they are the answer to the problem,” he said.