$400 to $550: rent spike warning
A real estate boss who manages around 7,000 rental homes has warned Australians could face rent increases of up to 30 per cent if negative gearing is scrapped in the federal budget
Nathan Birch, founder of Blink Property, warned thousands of his landlords have revealed they were preparing to lift rents if negative gearing was changed or removed.
“For Aussie battlers doing it tough, that means a $400 rental will become $550 almost immediately post the Budget announcement… if changes to negative gearing come into effect,” he said.
Mr Birch warned the impact could be severe for vulnerable renters already under pressure from rising living costs.
“This will be catastrophic for so many Australians, and the Government really needs to consider the wave of homelessness that could follow, particularly for our most vulnerable, including those on the pension or disability support who have no options at all to raise their income.”
