How this 32-year-old built a $2.5m property portfolio
Being a first-generation migrant who saw his parents work hard for everything they had, this property investor used it a...
With bushfires continuing across the country, REIV president Leah Calnan has offered insight into how the crisis is set to impact the housing market.
In addressing the media, Ms Calnan said the bushfire crisis is likely to further impact the “already tough housing market in regional Victoria”.
According to Ms Calnan, over 75,000 private dwellings are under threat in eastern Victoria. As such, a lot of bushfire-affected residents will be turning to rental home while their homes are rebuilt, “a process that will be made harder given the lack of rental homes already available in this region,” she said.
“Bushfire-affected families will be turning to the rental market while they rebuild. They face a tough search given the lack of rental properties across the region,” Ms Calnan said.
“This is a beautiful area with many holiday homes, and we are calling on holiday home owners in this region to consider putting your home on the rental market to help with the shortfall of rental housing and help these families find a new home.
“It can take months, if not years, for a family to rebuild their home. Those looking to stay in the community will be searching for rental properties; we need owners of vacant properties in this region to consider renting it out.”
“Sadly, these markets are already struggling for rental homes, so any extra homes would be greatly appreciated.”
Ms Calnan added: “Investors and holiday home owners are not necessarily from this area. They could be from Melbourne or across Victoria. We are calling on them to put their properties on the market and help a bush-affected family put a roof over their heads.”
“After surviving a bushfire, the last thing you want to be doing is taking on a long drawn-out search for a rental home,” she said.
“Extra rental homes will allow these people to stay in the communities they love.
“Given the strong demand for rental home, properties will be leased at a rapid pace, reducing the stress for landlords.”