A shortage of affordable housing and rising numbers of people experiencing homelessness is an issue that Australia needs to face.
In 2016 around 116,000 Australians were experiencing homelessness. Now the number is believed to be closer to 300,000. With the national average rent price increasing by 9.7% in the past year, we are only getting further away from grappling with this problem.
Watch the above video to learn more about how property investors can become part of the solution, all while increasing their return on investment.
What is ‘affordable housing’?
Housing is considered ‘affordable’ if it costs less than 30% of the household income. Access to affordable housing is vital for wellbeing and should be available to all Australians.
But with a rental vacancy rate of just 0.5-0.6% in Australia, supply and demand is making rental affordability almost impossible for low income earners.
Creating a win-win for property investors
Most Australians would like to see homelessness decline and see affordable housing become a possibility for everyone. But we often feel powerless to know what to do.
If you’re a property investor then there is something you can do. Simply look for ways to make your property a home for more than one person or family. This might look like purchasing a property with a granny flat, or getting one built. Another option is adding an extra bathroom or ensuite so that two families could dwell in one house.
While a stand-alone house might have generated $500 in rental yield, by adding a granny flat or renting rooms out individually, your rental yield could grow to $600 or more. All while playing a role in helping out families struggling to find a rental.
At Inspire Realty we believe in making the world a better place and we would love to help you find an investment property that could create a win-win for your tenants and you. Schedule a discovery session.
