Renting is a big issue for Australians. Rents are going up and finding a rental home is growing more difficult.
Listening to everyday Australians across regional Queensland in recent weeks, what I heard most about rent controls was how much damage they do.
A rent cap actually damages before it’s introduced.
The Greens announced they’re pursuing rent caps, and the reaction has been immediate. Landlords all over the country are now furiously putting up rents ready for the freeze.
https://i0.wp.com/www.malcolmrobertsqld.com.au/wp-content/uploads/2023/05/160523-Capture.jpg?fit=596%2C525&ssl=1525596Sheenagh Langdonhttps://www.malcolmrobertsqld.com.au/wp-content/uploads/2020/04/One-Nation-Logo1-300x150.pngSheenagh Langdon2023-05-17 10:55:212023-05-17 11:11:05Join me this Saturday at Parkwood Village to talk about fixing the Housing, Rental and Congestion Crisis.
Has your rent gone up in the previous year? Well you can thank Anthony Albanese. He’s bringing in up to 400,000 immigrants a year and every one of them needs a house too.
Transcript
As a servant to the many different people making our amazing Queensland community, I know rental prices are a savage problem. Interest rate rises are increasing mortgage repayments and forcing more investment property owners to dip into their own pockets to pay their mortgage. If owners do not have that extra money, then negative gearing is not going to help. Inflation of 7.8 per cent means that council rates, water rates, maintenance costs and insurance are making it harder and harder to hang on to investment properties.
Now the Greens propose a rent freeze, which is really a 7.8 per cent rent reduction each year that it goes on. The only effect of a rental freeze will be to drive investment property owners out of the market. Australia needs investment property owners to provide a home to people who are renting. Driving them out of the market will hurt the 400,000 new Australians who arrived last year and the one million likely to arrive during the course of this government.
Rising rentals are a product of too many people chasing too few rentals. We know 10 per cent of Australian homes are owned by investors who are not renting them out. Their investment strategy is to buy a new home and keep it locked up while it appreciates in value. Having a tenant in there is a complication they don’t want and lowers the resale value because the home is no longer new. Most of these properties are foreign-owned.
One Nation would give these owners 12 months to sell those properties to Australians. Bringing that number of homes onto the market would do more to bring prices down than a price cap. And One Nation would reduce immigration to net zero, meaning there would be only enough arrivals each year to replace those that leave. This will allow time for the housing construction industry to catch up with demand. It is about supply and demand.
These sensible, honest policies are One Nation’s solutions to high rents, which will protect real estate values from the chaos a rental cap will introduce.
