Just who is Mr or Ms Tenant?
New research has helped shed light on who is the typical renter.
Property listing website realestate.com.au has revealed the typical tenant is most likely to be female, aged between 35-49, earning an income in excess of $50,000, and looking for properties above $300 per-week.
So what about the men?
According to realestate.com.au, men brought up in higher-income households are the most likely demographic to be still living at home with their parents, rather than seeking out their own place.
Even though most states are currently tenants’ markets, a range of ‘lifestyle factors’ are encouraging the men from higher earning households to stay under their parents’ roofs.
On a wider gender comparison, the new realestate.com.au research showed less than 30 per cent of those looking to rent were male.
Additionally, renters are getting older. In line with the recent Census Data, the realestate.com.au survey found only 17 per cent of all those looking to rent were aged less than 25.
But according to Amy Sanderson, Head of Property Investment Management at LJ Hooker, there are great reasons for prospective tenants to leave the nest and venture out into the rental market at the moment.
“Nationally, we have seen a shift back towards a tenants’ market. In the majority of states, rents are reasonably steady and with a high number of available properties it is a good time to be looking to rent. Overwhelmingly, respondents to the survey said that Winter was the best time to find a rental, so all the signs are strong for prospective tenants.
“Having said that, we haven’t seen a drop in demand; across the country agents are reporting numerous parties competing for most properties.’’