Hobart rents recorded the largest quarterly increase in four years, while vacancy rates dropped to record lows, according to Domain’s Quarterly Rental Report. The Liberal Government needs to support struggling renters by freezing rents and stopping unfair evictions during the fuel crisis.
Domain’s latest analysis of the rental market shows Hobart household rents rose 3.3% last quarter to a record $620 per week – the largest quarterly increase in four years. Unit rents rose more still, by 4.2% to $500 per week. Meanwhile, Hobart’s vacancy rate fell to 0.2%, among the lowest levels on record.
Tasmanian renters were already doing it tough with the cost of living continuing to rise. The conflict in the Middle East has made things even worse, and more and more people are struggling to afford the basics like food and fuel.
These latest record-breaking rent rises will see many more Tasmanians struggle to afford the rent. Tasmanians simply can’t cope with more price increases during this crisis.
With vacancy rates at record lows, people unfairly evicted from their home are going to find it even harder than before to find an affordable place to live. With winter approaching, the Liberals shouldn’t leave renters out in the cold.
During the COVID-19 crisis, the Liberal Government froze rents and put a moratorium on evictions. Premier Rockliff needs to take a leaf out of his predecessor’s book and prioritise renters struggling to make ends meet during this crisis.
While there is a review of rental laws currently underway, Tasmanian renters can’t afford to wait for that process to conclude. The Liberals need to help struggling Tasmanian renters now by freezing rents and stopping unfair evictions during the fuel crisis.
