AU Men from high-income families missing from rental market
Property Here - Saturday, June 01, 2013
MEN from high-income families have gone missing from the Australian rental market. Why? Because theyre still living with mum and dad.
Research from realestate.com.au has shown that a typical Australian tenant is likely to be female, aged between 35 and 49, earning more than $50,000 a year and looking for properties renting for more than $300 a week.
While the market in most states is currently favouring tenants, survey respondents from households with $100,000 plus income were the most likely to stay living at home. Less than 30 per cent looking to rent were male.
The survey also showed the average age for leaving home in Australia continues to increase, with just 17 per cent of those looking to rent aged less than 25.
Amy Sanderson, head of property investment management at LJ Hooker, believes getting out of home and into the rental market is worthwhile.
“Nationally we have seen a shift back towards a tenant’s market,” Ms Sanderson said. “In the majority of states rents are reasonably steady and with a high number of available properties it is a good time to be looking to rent.”
In areas with tighter rental markets, Ms Sanderson says first impressions are crucial.
“Despite popular belief, the highest earner won’t always get the property,” she said. “Landlords are after reliable tenants who will look after their property, so present yourself well and make sure your application is filled out correctly.”
Renting can have its romantic benefits also, with the research revealing 14 per cent had entered into a relationship with a housemate, and more than half of those were still involved in the relationship. A staggering 29 per cent who had entered into a relationship with a housemate had ended up getting married.
Marie Luke moved from the UK to Australia in 2010 and needed a housemate. Through a friend, she was introduced to fellow UK expat Tony Rehal, who had been living alone for six months and had a room to rent.
“We emailed back and forth a few times to make sure we were both OK to live with,” Ms Luke said. “The day we actually met, we found we had loads in common. There was a real spark between us and we actually got together on day one.”
Three years later, the couple are still living in the same Bondi property, are engaged and will be married on a beach in Thailand in December.
Understandably, Ms Luke recommends share housing to anyone looking to get into the rental market.
“I shared with other guys back at uni, but they were certainly not boyfriend material,” she laughed.
“It’s good to share house because you open your social circles to a lot of other people. Not only have I met my future husband, but also a lot of dear friends that were originally his.”
Read more: http://www.news.com.au/realestate/renting/men-from-high-income-families-missing-from-rental-market/story-fndbatbk-1226654969853#ixzz2UvnQfYqj