‘It’s extremely tough’: Competition ‘immense’ for rentals as crisis worsens in Victoria

Rentals in Victoria are becoming harder than ever to find, with new figures from PropTrack showing Melbourne tenants have 22.7 per cent fewer homes to choose from compared to this time last year.

Director of Economic Research at PropTrack, Cameron Kusher, claims competition is “immense” for rental stock in the state, with data predicting a shortfall of 70,000 homes in the next three years.

Mr Kusher is particularly concerned with low income earners, fearing rising costs and a shortfall of homes could drive these people back into share homes, and in dire circumstances, homelessness.

Press PLAY to hear about the immense competition for rentals in Victoria 

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