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In Victoria there are approximately 60,000 people on the social housing waitlist. What is considered affordable is less than $400 per week, however there has been an increase in rental prices, knocking people out of the market.

Currently there are very few properties available in that range or new ones coming to market. This is due to increased interest rates and land taxes.

There are few owners who are keeping rents low to support some of the more vulnerable people in the market. Some owners are being forced to put rents up because they can no longer afford to subsidise rent to support these people.

This situation occurs when there is not enough social housing and a reliance on private owners to supply affordable housing in Victoria. This puts further pressure on an already stretched private rental market.

At Metro Property Management we are always working with our owners to help ensure they make the best decisions for their investment.

We know that sometimes the cost of selling an investment property can outweigh that of keeping it for an additional 12 months when they may get a better return. We also continually assess current rental rates in the market to see what the most appropriate level for our owners is to lease their investment properties.

We know every owner’s situation is unique and we work hard to get the best possible outcome for them.

We manage more than 1400 homes in 260 suburbs in Victoria. Talk to Metro PM today to see how we can help you to manage your property and help set your investment up for the future.