What do tenants look for?
Home ownership may be the Australian dream but for a large proportion of the population renting a property is the preferred – or only – option for housing.
According to the 2011 Census, nearly 2.3 million dwellings were rented, compared to 1.7 million dwellings in the 1996 census - an increase of around 34,000 per annum over the 15 year period.
Recently, LJ Hooker surveyed tenants throughout Australia to find out more about this sector of the market.
In terms of rental product, detached, free-standing homes were overwhelmingly (71%) the most popular rental property, followed by apartments (17%).
One-third of respondents indicated they chose to rent because they could not afford to purchase a property. In capital cities such as Sydney and Melbourne, where property prices have risen significantly in the last three years, renting is a very popular option for many. Another 27% of respondents said they were renting to save money to purchase a property.
For the full results of the tenant survey, visit myljhooker.com.au