DESPERATE residents are being forced to bed-hop between accommodation venues because it is almost impossible to find a rental property in Echuca-Moama.
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One local family has been living at a caravan park for months, as demand for properties reaches unprecedented levels.
Another couple the Riv spoke to said it had been caught in a rental battle for three years.
At the time of writing, there were just 19 properties in the twin towns listed on realestate.com.au - the cheapest property being $240 per week and the most expensive at $480.
The local family, who wishes to remain anonymous, has been without a permanent residence since March after leaving the home of a relative where it was staying.
“We had been living with that person to help them out after they were diagnosed with cancer for a second time,” the person said.
“But when the pandemic started, they asked us to leave because they were worried we might compromise their health.
“The four of us moved into a bed and breakfast for a few months but that ended up being far too expensive, so we came to the caravan park.
“We’ve applied for about 50 properties – and even some of those we can’t afford.”
The family has two young children and the parents – who both still have jobs – say they are putting on a brave face for their children.
“They don’t see the stress, but you do everything you can to be a good parent,” the person said.
“They’ve never gone without and we don’t want them to. We’ve had to put everything we own into storage.
“I’m a positive person but the stress is unbelievable.”
Ray White’s Lyn Hall said she expected the trend to continue for some time yet.
“This is probably the lowest number of properties I’ve seen available at one time in 20 years,” she said.
“Normally there would be 50 to 70 properties listed on the website and during the Global Financial Crisis, that figure sat around 180.
“We’ve had several companies renting out properties for their employees so that has had an impact on what is available.
“And that’s without counting the inquiries we continue to get from Melbourne. But we’re not allowing people from metropolitan areas to come here and complete inspections.
“It is going to be difficult to find a suitable home in the coming months for many families.”
Bradley McKellar and his partner Jasmine have continued to feel the pinch of the property game with their search for a home now reaching three years.
“We both have permanent jobs and stable income with decent credit, but we struggle to find rentals in this town,” Bradley said.
“The economy seems to be extremely picky. We have both applied for more than 200 houses over the years.
“We almost sacrificed our beloved pet just to have a chance at somewhere to live, but I am glad we didn’t have to because we adore him too much.
“It’s a real struggle in today’s economy.”
Century 21 leasing manager Tara Kerr said October was usually a busy time of year for her business.
“The number of people searching for properties usually would ramp up right before Christmas,” she said.
“Currently we don’t have a single property which is advertised. And even those that aren’t on the market yet will be filled before we can advertise them.
“We’re still getting a lot of local traction with people wanting to move about the twin towns.
“One thing we’re seeing is people are happy to stay put, where they are.”
Despite the concerns for tenants, Elders Real Estate principal Dean Costello described the situation as an “investors’ paradise”.
“People who own investment properties couldn’t be more pleased with what is happening,” Mr Costello said.
“There is a very strong demand and any gaps which appear in the market are being filled quickly.
“Investors are getting a good return which means there is good capital growth.
“Now is the perfect time to work your way into the property market if you do want to invest because you should expect to see instant reward.”
The demand also continues to be strong for buyers.
Charles L King director Troy O’Brien said he was starting to see a lack of stock in the market in some areas.
“A lot of people are taking the approach of if they don’t need to sell, they won’t until a later date,” Mr O'Brien said.
“But when people are selling, there is plenty of competition for those properties.
“We’re even seeing homes in areas which have generally been tough to sell in getting snapped up.”
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