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Saturday, 22 November 2008

Estate agents accused of exploiting housing crisis

27/08/2008 3:00:00 PM.  | Kelly Fedor
Sydney real estate agents are being accused of exploiting the housing crisis by driving up rents and forcing potential tenants to bid for properties.

The number of complaints by tenants has surged by more than 4000 a year over the last four years.

Chris Martin from the Tenants Union has told Luke Bona one of the tactics is advertising a price range for rentals to attract more people.

"They turn up at the open house inspection, it looks like there's a lot of interest and that's when the bidding war starts because there's this exaggerated level of interest in the property."

COMMENTS

Wednesday, 27 August 2008

I'm sure this comment will be unpopular- but I don't have a problem with this. There aren't enough rental properties around, those owners that stuck with the market despite all the drama are entitled to get as much as the market is willing to pay. The reason rents are so high is because investing in housing is not that great anymore, with stamp duty, increasing house prices and extortionate land tax most people won't buy for investment reasons now.

Posted by: Concerned Liberal, Minto

 

Friday, 29 August 2008

and more home owners having to sell up means more people wanting to rent. meaning there will be more homeless. the situation is going to get much worse i am afraid. when i was looking for properties in feb/march/april, any homes below $270, you would have well over 60 to 100 people turn up and fill in an application and this is in newcastle. most of the homes were run down and in need of repair. applications now ask how many cars, boats, etc you have. your share portfolio. its hard out there

Posted by: Belinda Hummie, New lambton

 
 

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