Hitting Home: Renewed calls for rental reform amid soaring prices

More than 500,000 people renting in Queensland are facing soaring costs as plans ramp up to halt greedy landlords. VOTE IN THE POLL

As more than 500,000 Queenslanders face rent increases, the Palaszczuk government says it is willing to introduce tougher laws on greedy landlords.

Housing advocates pleaded with the state government to “urgently” address the affordability crisis by limiting the size and frequency of rent increases.

Deputy Premier Steven Miles was critical of soaring rental prices following reports last year of real estate agents encouraging landlords to slap tenants with 20 per cent price increases.

As of the 2021 census, Queensland has more than 500,000 people renting.

“They should consider the fact that those rent changes are impacting the real lives of other Queenslanders,” he said.

A line of people waiting to inspect a property in New Farm late last year. File picture: Steve Pohlner

“It’s taking money out of their pockets, taking food off their table and if we continue to see irresponsible behaviour then of course the government will act.”

But the Deputy Premier said it was the government’s preference was to avoid enforcing new laws to kerb the greedy behaviour.

“We would say to landlords and to real estate agents: please be reasonable,” Dr Miles said.

“We understand costs are going up and there is a reasonable level of rent increase that is fair and necessary.

“But over and above that, I’d urge them to be much more considerate of their fellow Queenslanders.”

Samantha Stewart with kids (L-R) Jakson (age 10), Mahalia (age 13), Chayse (age 16) and Charleah (age 17). Picture: Richard Walker

Logan mother of four Samantha Stewart in September 2022 explained she had lived in an Eagleby rental unit with her family for more than three years but the property’s recent sale meant her family had to move.

Combined house and apartment rental prices in Brisbane surged nearly 25 per cent higher in the 12 months to February, according to property data group SQM Research.

Tenants Queensland and social services peak body QCOSS joined forces on Friday to implore Premier Annastacia Palaszczuk to “urgently” act on the affordability crisis by limiting the size and frequency of rent increases.

QCOSS chief Aimee McVeigh applauded the state government for committing to a number of measures in the wake of the Housing Summit but called on the Premier to prioritise rental reform amid soaring inflation.

“With tens of thousands of Queenslanders experiencing housing insecurity who are not eligible for social housing, we also urgently need rental reform to stop more Queenslanders being forced into homelessness,” she said.

“The housing crisis is happening amid a broader cost-of-living crisis and the Queensland government must intervene urgently so that people on low incomes do not bear the brunt of inflation.”

Tenants Queensland chief Penny Carr said renters were being slapped with price increases from landlords at almost three times the rate of inflation.

“These increases are unaffordable and making people homeless,” she said.

“Unless we limit rent increases, hardworking Queensland renters will continue to be put at risk of homelessness and subjected to opportunistic rent increases in a hot market.

“Improving the experiences of renters by protecting them from unreasonable rent increases and arbitrary evictions is an important part of a healthy housing system.”

The Queensland rental market has recorded sustained price rises as interstate migration soared following the Covid-19 pandemic, with the sharpest increases in Brisbane as well as the Gold Coast and Toowoomba where rents jumped 33.6 and 22.2 per cent respectively in the year.

QCOSS chief executive Aimee McVeigh has called on the state government to act on soaring rentals. Picture: David Clark

SQM Research managing director Louis Christopher said the squeeze on vacancy rates across the state was appearing to ease slightly but warned the rise in rentals would continue, with “our charts pretty clear that momentum is still up at this point in time”.

“There’s no sign to say it’s about to slow down,” he told The Courier-Mail on Thursday.

“We’ve recorded a slight increase in the number of weekly rental listings but it’s still very very tight in the scheme of things.”

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Despite the continued pressure on the rental market, Mr Christopher was critical of a proposed reform to limit landlords lifting prices which he described as “counter-productive”.

“What will happen is you’ll have less landlords in the marketplace (and) you’ll have less interest from property investors in building new property,” he said.

“If you were to restrict rental increases by landlords, landlords will walk away — they will just leave the market and you’ll have less rental properties available.”

SEE THE FACES OF QUEENSLAND’S RENTAL AND HOUSING CRISIS

Originally published as Hitting Home: Renewed calls for rental reform amid soaring prices