Published: September 11, 2018
Real estate expert says lower-income tenants will be hit by rising rents and lack of choice
Record-low vacancy rates and a booming population have fuelled claims of a looming rental crisis in Melbourne, as tenants’ advocates and the real estate industry clash over new laws that hand increased rights to Victorian renters.
Data released late last month revealed Victoria’s rental vacancy rate had plummeted, prompting the Real Estate Institute of Victoria (REIV) to warn that conditions would only worsen for renters in the coming months following the overhaul of the state’s rental laws.
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