TOO MANY OF US CAN’T FIND PLACE TO LIVE

THE rental pain felt across Townsville has failed to abate, according to new data released by the state’s peak real estate agent body. Such is the pain being felt that vacancy rates have reached their lowest level in more than 15 years.

Trying to get into the rental market in Townsville has become cutthroat, with the market assessed at an availability of just 0.9 per cent.

It’s not just Townsville’s hopeful renters who are feeling the pain, with Charters Towers and Mount Isa sitting at 0.8 per cent availability.

The Bulletin has been reporting on the rental shortage for months, detailing the rough trot many people are having trying to secure accommodation in the market.

The increases in weekly rent have also been sharp, with the average three-bedroom home in Townsville costing $350 a week.

It has got to the point where some people are putting in application after application to try to secure a home, but are falling short. The anxiety for a family must be immense and more needs to be done to encourage investors into the city to build.

Or even better, open up first homeowner grants that allow people to buy already-built homes, so they can be homeowners and pay off their own mortgage.

Real Estate Institute of Queensland zone chair Ben Kingsberry says in today’s story that a huge number of people are moving to the city to buy or rent. He said the issues were with the need for more people to build tenancies, although insurance availability and affordability scared off potential investors.

“We need the insurance reforms that have been talked about,” Mr Kingsberry said.

This paper has also reported extensively on the need for insurance reform to encourage investors to buy into the market and open up further homes for renters.

The government needs to urgently address these issues to stave off a full blown rental crisis in Townsville.

The human cost is only just starting to filter through and with the end of Jobkeeper payments hurting families even more, the issues are only going to become more apparent.

It’s time to step in and step up, for the sake of locals who are desperate for somewhere to live.