End-of-year reflection
No less than the Reserve Bank of Australia board has predicted that 'further large increases in rents' are expected over coming years as population growth picks up.
Right now, far too many Victorian renters face a shortage of affordable and available rental homes. This is a systemic challenge, stemming from our flawed housing system and exacerbated by the uniquely disruptive circumstances of the COVID-19 pandemic.
The time is ripe for the Victorian Government to undertake a public consultation, including both renters and landlords, with the goal of legislating a ‘fairness formula’ to regulate future rent increases in the private rental market.
Our New Year resolution is clear: we will advocate strongly on this and other issues in 2023 on behalf of the growing renter demographic.
Meanwhile, stay safe and well over the holidays – our office finishes up on 22 December to enable our staff to refresh. We resume our services on 9 January.
Season's greetings to all – and merry Christmas and happy Hanukkah to those celebrating!
Jennifer Beveridge
CEO, Tenants Victoria
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