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'Just like home’. New survey finds most renters enjoy renting, although for many it’s expensive - BCEC

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New survey finds most renters enjoy renting, although for many it’s expensive</span></span> </div> </div> </div> <section id="main"> <div id="content_container" class="container"> <div id="sidebar" class="column3"> <div class='panel search'> <h3>Search Media</h3> <form action="https://bcec.edu.au/media/" method="get"> <ul> <li> <!-- <label for="search">Search text</label>--> <div class="input_wrap search_icon"> <input type="text" name="search" value="" placeholder="What are you looking for?" /> </div> </li> <li> <label for="media_type">Media type</label> <div class="select_wrap"> <select name="media_type"> <option value="" selected>Media type</option> <option value="media-releases" >Media Releases</option><option value="public-commentary" >News &amp; Public Commentary</option><option value="public-submissions" >Public Submissions</option> </select> </div> </li> <li> <label for="start_date">Publication date</label> <div class="date_select_wrap"> <div class="select_wrap"> <select 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Please register for our Newsletter for the latest event information.</p></div> </div> <div id="content" class="column9"> <div class='page_type'>News &amp; Public Commentary</div> <h1 class="with_subtitle">&#8216;Just like home’. New survey finds most renters enjoy renting, although for many it’s expensive</h1> <div class="item_content"> <div class="item_content_left"> <img class="feature_image" width="240" src="https://bcec.edu.au/assets/just-like-home-2.jpg" /> </div> <div class="item_content_right"> <div class='contacts'><span>Authors</span>Steven Rowley<br />Amity James<br /></div><div class='publication_date'><span>Published</span>9 October 2018</div> </div> <div class="item_content_main"> <p>One in every four Australian households rents, and it’s not just those on low incomes.</p> <p>A new <a href="https://bcec.edu.au/publications/the-private-rental-sector-in-australia/">nationally representative survey of 3,182 renters</a>, funded by the Bankwest Curtin Economics Centre, finds that while 60% of renting households have a household incomes below A$78,000, 30% are on incomes of more than A$100,000.</p> <p>Although many households on low incomes and those headed by single parents are undoubtedly struggling to meet rental costs, those on moderate or higher incomes are generally positive about the experience.</p> <h2>Many of us rent</h2> <p>Despite its reputation as a nation of homeowners, Australia has the <a href="https://www.ahuri.edu.au/news-and-media/news/how-does-australias-private-rental-sector-compare-with-the-rest-of-the-world">10th largest private rental sector</a> in the 37 nations that make up the Organisation for Economic Cooperation and Development.</p> <hr /> <figure class="align-center "><img src="https://images.theconversation.com/files/238105/original/file-20180926-48662-17vb4s4.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="" /><figcaption><span class="caption">Comparison of international private rental sectors.</span><br /> <span class="attribution"><span class="source">OECD Housing tenure distribution 2014 or later. ABS Census data 2016</span></span></figcaption></figure> <hr /> <p>Six in ten renters do it because they can’t afford to do anything else. The rest rent by choice.</p> <h2>Most are happy with what they rent</h2> <p>Perceptions of dwelling quality are positive with only 6% reporting that their dwelling is in a poor or terrible condition. 81% report a good or excellent relationship with their landlord.</p> <p>Add a property manager into the mix and this falls to a still respectable 69%. Fewer than than 5% of respondents reported a poor or terrible relationship.</p> <p>Around half of respondents claim to have a good to full understanding of their rights as tenants.</p> <hr /> <figure class="align-center zoomable"><a href="https://images.theconversation.com/files/239827/original/file-20181008-72124-1pp2m3g.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/239827/original/file-20181008-72124-1pp2m3g.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="" /></a><figcaption><span class="caption">Relationship with property manager or landlord.</span><br /> <span class="attribution"><a class="source" href="https://bcec.edu.au/publications/the-private-rental-sector-in-australia/">Bankwest Curtin Economics Centre 2018 Private Rental Sector Survey.</a>, <span class="license">Author provided</span></span></figcaption></figure> <hr /> <p>Overall, when asked whether their rental property felt like home, just over 60% reported it did, with less than 20% being negative about their experience.</p> <p>The longer a tenant lives in a rental dwelling, the more it feels like home, highlighting the importance of security of tenure.</p> <p>Generally, levels of satisfaction with the sector are high given the proportion of tenants who would rather be owners.</p> <hr /> <figure class="align-center "><img src="https://images.theconversation.com/files/238107/original/file-20180926-48650-1piofsz.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="" /><figcaption><span class="caption">Satisfaction with the private rental sector by age group.</span><br /> <span class="attribution"><span class="source">Bankwest Curtin Economics Centre Private Rental Sector Survey</span></span></figcaption></figure> <hr /> <h2>Security of tenure matters</h2> <p>Security of tenure is a <a href="http://www.abc.net.au/news/2017-05-24/renting-the-insecurity-of-private-tenants-and-how-they-manage-it/8554238">major concern of private renters</a>.</p> <p>Two thirds of renters have been in their current property for less than three years. Almost 40% have rented four or more properties during their time as renters.</p> <p>While two thirds of moves are by choice, around one third are forced with the primary reason being the owner selling the property.</p> <hr /> <p><em><strong>Read more:<br /> <a href="http://theconversation.com/home-ownership-foundations-are-being-shaken-and-the-impacts-will-be-felt-far-and-wide-91664">Home ownership foundations are being shaken, and the impacts will be felt far and wide</a></strong><br /> </em></p> <hr /> <p>Moves are stressful, expensive and disruptive, particularly for households with children. Around half of all renters say they would gladly choose to sign a lease longer than 12 months if given the option because it would offer greater security and a stronger sense of home.</p> <h2>As does discrimination</h2> <p>One in five renters report some form of discrimination when applying for rental properties.</p> <p>Those households most likely to suffer from <a href="http://www.abc.net.au/news/2018-08-17/racism-in-the-rental-sector-wa/10129418">discrimination</a> are single parents with children.</p> <p>In September <a href="https://engage.vic.gov.au/fairersaferhousing">Victoria passed landmark leglislation</a> intended to improve the rights of renters.</p> <hr /> <p><em><strong>Read more:<br /> <a href="http://theconversation.com/life-as-an-older-renter-and-what-it-tells-us-about-the-urgent-need-for-tenancy-reform-103842">Life as an older renter, and what it tells us about the urgent need for tenancy reform</a></strong><br /> </em></p> <hr /> <p>Some important issues addressed in the legislation are highlighted in the Bankwest Curtin Economics Centre report which found the vast majority of respondents are on short-term leases (12 months or less).</p> <p>NSW is following suit, although, disappointingly, <a href="https://theconversation.com/an-open-letter-on-rental-housing-reform-103825">it does not plan to outlaw no-grounds evictions</a>.</p> <h2>And rent can be expensive</h2> <p>The typical proportion of gross income spent on rent is 28%, with almost half of all renters paying more than 30%, a figure that rises to 63% for renters over 55.</p> <p>One in seven renters are paying more than 60% of their income in rent.</p> <p>When asked the reasons for such high rental payments, almost six in ten report being forced to pay that much through a lack of available alternatives.</p> <p>Commonwealth rent assistance was regarded as important or very important by nine out of ten of those receiving it.</p> <h2>What we could do to help</h2> <p>One of the best ways to make rent more affordable would be to reintroduce a subsidised rental scheme that offered a financial incentive for developers to invest in housing that would be leased to low-income households at below-market rents along the lines of the <a href="https://www.ahuri.edu.au/research/final-reports/267">National Rental Affordability Scheme</a> by Prime Minister Kevin Rudd in 2008.</p> <p>It was wound up by his successor Tony Abbott in 2014.</p> <p>Workable <a href="https://www.domain.com.au/news/how-buildtorent-could-solve-australias-housing-woes-as-first-developments-near-20180703-h12758-750684/">build to rent</a> schemes could also help boost supply and security of tenure, and the negative gearing and capital gains tax concessions tax available to mum and dad investors could be tied to the delivery of long–term, below market rental dwellings.</p> <p>Our survey finds the private rental market is performing quite well for those on moderate to high incomes. But not for those on low incomes who will never access home ownership and need secure long term tenure.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img loading="lazy" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;" src="https://counter.theconversation.com/content/103890/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: http://theconversation.com/republishing-guidelines --></p> <p><a href="https://theconversation.com/profiles/steven-rowley-201914">Steven Rowley</a>, Director, Australian Housing and Urban Research Institute, Curtin Research Centre, <em><a href="http://theconversation.com/institutions/curtin-university-873">Curtin University</a></em> and <a href="https://theconversation.com/profiles/amity-james-272922">Amity James</a>, Lecturer, School of Economic, Finance and Property, <em><a href="http://theconversation.com/institutions/curtin-university-873">Curtin University</a></em></p> <p>This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/just-like-home-new-survey-finds-most-renters-enjoy-renting-although-for-many-its-expensive-103890">original article</a>.</p> <div class='continue_reading bottom'><a href='https://theconversation.com/just-like-home-new-survey-finds-most-renters-enjoy-renting-although-for-many-its-expensive-103890' class='button' target='_blank'>READ FULL ARTICLE</a></div> </div> </div> <div class='related_panels'> <div class='panel_heading'> <h3>Further Information</h3> </div> <div class="panel publication"> <a href="https://bcec.edu.au/publications/the-private-rental-sector-in-australia/" class="image"> <img src="https://bcec.edu.au/assets/The-Private-Rental-Sector-in-Australia-report-cover-300x424.jpg" alt="" /> </a> <span class="content"> <a href="https://bcec.edu.au/publications/the-private-rental-sector-in-australia/" class="title">The Private Rental Sector in Australia</a> <span class='authors'>Steven Rowley, Amity James</span> <span class="intro"> This report examines the state of the private rental sector (PRS) in Australia through analysis of 2016 census data and a survey of 3,182 Australian private renters. The survey asked renters about issues such as the number of rental properties<span class="excerpt-more"><span class="excerpt-more-dots">... </span><a class="excerpt-more-link" href="https://bcec.edu.au/publications/the-private-rental-sector-in-australia/">Read article</a></span> </span> <span class="meta"> <span class="post-type">Publication</span><span class='date'>9 October 2018</span><span class='category'>Feature</span> <a href="https://bcec.edu.au/publications/the-private-rental-sector-in-australia/" class="read_more"> <span>Read More</span> </a> </span> </span> </div> <div class="panel"> <a href="https://bcec.edu.au/news/australias-private-rental-market-quality-security-and-affordability/" class="image"> <img src="https://bcec.edu.au/assets/2014/12/file-20181008-72100-3n8lr7-400x331.jpg" alt="" /> </a> <span class="content"> <a href="https://bcec.edu.au/news/australias-private-rental-market-quality-security-and-affordability/" class="title">Australia’s Private Rental Market: Quality, Security and Affordability</a> <span class="intro"> BCEC released two new research reports at a housing workshop in October 2018, drawing on data from the latest BCEC Housing Affordability Survey to examine the state of the private rental sector in Australia. Both reports address issues of affordability, quality and<span class="excerpt-more"><span class="excerpt-more-dots">... </span><a class="excerpt-more-link" href="https://bcec.edu.au/news/australias-private-rental-market-quality-security-and-affordability/">Read article</a></span> </span> <span class="meta"> <span class="post-type">News</span><span class='date'>12 October 2018</span> <a href="https://bcec.edu.au/news/australias-private-rental-market-quality-security-and-affordability/" class="read_more"> <span>Read More</span> </a> </span> </span> </div> <div class="panel"> <a href="https://bcec.edu.au/projects/housing-affordability-western-australia-comparative-analysis/" class="image"> <img src="https://bcec.edu.au/assets/shutterstock_370252967-400x400.jpg" alt="" /> </a> <span class="content"> <a href="https://bcec.edu.au/projects/housing-affordability-western-australia-comparative-analysis/" class="title">Housing Affordability in Western Australia: A comparative analysis</a> <span class='authors'>Alan Duncan</span> <span class="intro"> This research project builds on the successful research program delivered through collaboration between BCEC and the School of Economics and Finance which resulted in the “Housing Affordability: The real costs of housing in WA” report published in April 2014. It<span class="excerpt-more"><span class="excerpt-more-dots">... </span><a class="excerpt-more-link" href="https://bcec.edu.au/projects/housing-affordability-western-australia-comparative-analysis/">Read article</a></span> </span> <span class="meta"> <span class="post-type">Project</span><span class='category'>Housing Pathways and Affordability</span> <a href="https://bcec.edu.au/projects/housing-affordability-western-australia-comparative-analysis/" class="read_more"> <span>Read More</span> </a> </span> </span> </div> </div> </div> </div> </section> <div id="footer"> <div class="footer_overlay"> <div class="container"> <div class="column6 footer_text"> <div class='gold'><p class="gold">The Bankwest Curtin Economics Centre is an independent economic and social research organisation located within the Curtin Business School at Curtin University.</p> </div> <div><p><img loading="lazy" class="alignleft wp-image-901" src="https://bcec.edu.au/assets/acknowledgement-icon-150x150.png" alt="acknowledgement-icon" width="80" height="81" srcset="https://bcec.edu.au/assets/acknowledgement-icon-150x150.png 150w, https://bcec.edu.au/assets/acknowledgement-icon.png 283w" sizes="(max-width: 80px) 100vw, 80px" />The Bankwest Curtin Economics Centre team acknowledges the Wadjuk Nyungar people as the traditional owners of the land on which the Centre is situated.</p> </div> </div> <div class="column3 contact"> <h3>Contact</h3> <p> <b>Bankwest Curtin Economics Centre</b><br /> Curtin University<br /> Level 4, Building 408<br /> Kent Street<br /> Bentley WA 6102<br /> </p> <p><a class='phone' href='tel:+61-8-9266-1744'>+61 8 9266 1744</a></p> </div> <div class="column3 links"> <h3>Links</h3> <ul> <li><a href="https://bcec.edu.au/contact/" rel="noopener">Contact</a></li> <li><a href="http://www.bankwest.com.au/" target="_blank" rel="noopener">Bankwest</a></li> <li><a href="http://business.curtin.edu.au/" target="_blank" rel="noopener">Curtin Business School</a></li> <li><a href="http://rim.curtin.edu.au/privacy/" target="_blank" rel="noopener">Privacy Statement</a></li> <li><a href="http://www.curtin.edu.au/accessibility/" target="_blank" rel="noopener">Accessibility</a></li> </ul> <div class="social_icons"> <a href='https://www.facebook.com/Bankwest-Curtin-Economics-Centre-1200674143281504/timeline/' class='facebook' target='_blank'>Facebook</a> <a href='https://twitter.com/bankwestcurtin' class='twitter' target='_blank'>Twitter</a> <a href='https://www.linkedin.com/company/7959548' class='linkedin' target='_blank'>LinkedIn</a> </div> </div> </div> <div class="container"> <div class="column6 copyright"> &copy; 2024 Bankwest Curtin Economics Centre </div> <div class="column6 credits"> Design &amp; Development by <a href="https://distl.com.au/" target="_blank">Distl</a> </div> </div> </div> </div> <div id="myModal" class="modal"> <div class="modal-content"> <div class="email-icon"> <img src="https://bcec.edu.au/assets/img/icon_envelope.svg" /> </div> <div class="text-container"> <h2>Subscribe to our newsletter and alerts</h2> <span class="close">&times;</span> <form action="https://bankwestcurtineconomiccentre.createsend.com/t/i/s/nhrxy/" method="post" id="subForm"> <p> <label for="fieldName">Full Name</label> <input id="fieldName" name="cm-name" type="text" required /> </p> <p> <label for="fieldEmail">Email</label> <input id="fieldEmail" name="cm-nhrxy-nhrxy" type="email" required /> </p> <p> <label for="fieldvnlrl">Title</label> <span class="select-wrapper"> <select id="fieldvnlrl" name="cm-fo-vnlrl"> <option>- Select Title</option> <option value="883874">Miss</option> <option value="883876">Mr</option> <option value="883875">Mrs</option> <option value="883873">Ms</option> <option value="883878">Mx</option> <option value="883877">Dr</option> <option value="883880">Associate Professor</option> <option value="883879">Professor</option> </select> </span> </p> <p> <label for="fieldzulqt">Organisation</label> <input id="fieldzulqt" name="cm-f-zulqt" type="text" /> </p> <p> <label for="fieldzulqi">Sector</label> <span class="select-wrapper"> <select id="fieldzulqi" name="cm-fo-zulqi"> <option>- Select Sector</option> <option value="878411">Government</option> <option value="878412">Public Sector</option> <option value="878413">Industry</option> <option value="878414">Industry Association</option> <option value="878415">Not-for-profit</option> <option value="878416">Academia</option> <option value="878417">Education</option> <option value="878418">Other</option> </select> </span> </p> <p> <button type="submit">Subscribe</button> </p> </form> </div> </div> </div> <script src="https://bcec.edu.au/assets/js/global.min.js"></script> <script src="https://bcec.edu.au/assets/js/vendor/slick.min.js"></script> <script src="https://bcec.edu.au/assets/js/vendor/jquery.mixitup.min.js"></script> </body> </html>

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