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Increase In House Rental

Rental prices are on the rise in Bass Coast, according to a report on Affordable Housing in the Shire between 2009 and 2010.

By Bass Coast - 14th February 2012 - Back to News

Bass Coast Shire Council’s Community and Economic Development Director, Steven Piasente, said the report showed that regional Victoria experienced the second biggest drop in affordability in Australia in 2010.

"Bass Coast rental prices certainly reflected that general trend," confirmed Mr Piasente.

"Between 2009 and the end of 2010, the average rent for a three bedroom house in the shire increased by 25 per cent.

Mr Piasente said that the increase could have been greater without the Housing Accord set up to deal with the demand for rental properties from the desalination plant workforce.

"The increase in rental prices was matched by a 25 per cent increase in rental stock. The Housing Accord brought over 600 new properties onto the market and created a new market for furnished rental properties," said Mr Piasente.

The biggest rental increase was in coastal townships (30 per cent) and Inverloch (50 per cent).

"The demand for seaside rentals is high, due to holiday rentals, people making a sea change or retiring by the coast," Mr Piasente said.

"These were also the areas where the majority of the properties sourced through the Housing Accord were located. Those properties were holiday homes that had not previously been available for long term tenants.

"In addition, 506 new dwellings were built in the Shire during 2010, to accommodate people moving here for work or a lifestyle change."

Mr Piasente said the findings on emergency accommodation were a concern.

"The Report stated there was almost no emergency accommodation in the Shire for low income families and that there has been a decline in available accommodation in caravan parks," said Mr Piasente.

"Council has raised the issue with the State Government Department of Housing and will advocate for the Department to provide more emergency accommodation in Bass Coast."

The full Housing Affordability report is available on Council’s website at www.basscoast.vic.gov.au.

Source: www.gippsland.com

Published by: news@gippsland.com

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