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Tenant dynamics change as renting becomes increasingly popular

Tenant dynamics change as renting becomes increasingly popular

by Staff Reporter 0 comments

Rental numbers are rising while people are staying in properties for longer, according to a new report.

The Victorian government report said that the growth in the share of the population renting is being driven by the private sector.

“The number and proportion of households renting privately is significant and increasing,” it said.

The number of rental households increased by 35 per cent between 1996 and 2011, compared to an increase of only 28 per cent in overall household numbers.

The report said that short-term tenancies continue to the most common length of tenancies.

“However, a recent Australian Housing and Urban Research Institute report noted that there is a significant proportion of long-term tenants, and this has increased over time,” it added.

The statistics quoted in the report show how much property-swapping has declined.

In 1996, 82.5 per cent of households renting privately had changed their address during the previous year – but that number had shrunk to 32.2 per cent by 2011.

The report also said that there has been an increase in the size of households using the private rental sector.

The most common number of occupants in 2011 was between three and five, compared to two in 1996.

[Related: Government raises possibility of 10-year leases]

 

Tenant dynamics change as renting becomes increasingly popular
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