Getting out of town: Australians rush to rent in the regions

Australia’s housing market is being turned on its head by Covid-19, with fierce competition for regional rentals as city properties stand empty

A “no vacancy sign” has been hung over regional Australia, as the coronavirus crisis sparks an exodus of city dwellers seeking lower-cost housing or a lifestyle change in the country or on the coast, experts say.

With the number of empty homes soaring in capital cities but falling to unprecedented lows in many regional areas, would-be renters are being forced to offer 10% or even 20% over the asking price just to make the shortlist of applicants in sought-after regional areas.

Continue reading… Source: The Guardian: Getting out of town: Australians rush to rent in the regions ———