Prime Minister experiencing rental stress

29 10 2011

According to a News Limited article with the headline “HOUSING STRESS: PM struggles to find a rental property”, Prime Minister Julia Gillard is having trouble finding a rental property in a difficult market.

The number of rental vacancies around the country continue to increase as cost of living pressures force renters to consolidate into share accommodation or move back in with Mum & Dad.

According to SQM research, there were 48,179 rentals vacant around the country in September, up 21% from the same period last year. In Canberra, the home of The Lodge, rental vacancies are up 18%, and in Juila’s home capital of Adelaide, vacancies have shot up 69% in the past year.

But the problem might not be Australia’s rental market where vacancy rates are quickly returning to normal, but the requirements. The Prime Minister needs a rental with secure entry, bulletproof glass and a granny flat for live in accommodation for body guards. It’s unknown if gas is a requirement, or if an electric cooktop will suffice.

Original Post found here: http://www.whocrashedtheeconomy.com/blog/?p=1799#comments

http://www.news.com.au/money/property/housing-stress-pms-struggles-to-find-a-rental-property/story-e6frfmd0-1226179004217#ixzz1c0wNu1vC





House price falls accelerate

29 10 2011

Posted by Unconventional Economist in Oz Housing Bubble – Oct 28 2011

Housing data provider, Australian Property Monitors (APM), yesterday released its September quarter house and unit price figures. It was another poor result with house price falls accelerating, declining -1.6% nationally in the September quarter compared with a -1.2% fall in the June quarter. Unit prices were more resilient, falling -0.6% in the September quarter, matching the -0.6% decline registered in the June quarter.

Below are the key tables from the APM release via SmartCompany:

Find the rest of the post at this link: House price falls accelerate