by Ann Lynn
Whether you’re looking to buy or rent a property, research shows there’s a common feeling from those scouring the property market that there’s high demand for a limited number of properties available. We feel it as a crunch.
Buying is competitive
Australian’s still crave a home of their own, with plenty of people currently looking to buy a house.
Our latest research shows that 43.1% of those currently searching the Australian property market to buy a property say that the market is too competitive.
But renting is even more so
Renter’s certainly don’t think they have an easier task.
When asked, 57% of renters said there were too many people looking for similar properties in their area, with almost 60% of New South Wales dwellers saying there is too much competition.
Step on the ladder
First-time renter, Matt Mansfield, said that competition was fierce when he and partner Eleanor were searching for their first rental property in Richmond, Victoria.
“We very quickly learnt that the number of people looking for property in the area far outweighed the number of properties available. We would often turn up to open for inspections only to find more than 50 other people – families or couples – doing the same,” he said.
“We assumed it would be easy to find a place to live, but soon learnt that there were certain tactics we had to employ in order to stay ahead of the crowd and land the right rental property”.
