Why Australians are being warned to prepare for even more rent hikes - as landlords reveal their next move amid rising interest rates and tax hikes

New tax could be passed onto renters Governments also considering rent caps 

Australians could be hit with even more rent hikes as landlords try to offset the cost of a new tax and the potential introduction of rent caps.

Responding to a survey on social media this week, a group of landlords indicated they would raise rents now in case caps on rental increases were brought in.

Rob Klaric who runs The Property Expert International, said landlords are feeling pressured by already having to bear the brunt of soaring interest rates.

‘Landlords will have no choice but to increase their rents to try to recover the additional costs, because they’re being slammed on both sides of the fence at the moment,’ Mr Klaric told news.com.au.

‘If you’re a renter, you’re going to get pushed out of the major cities because it’s becoming too expensive. They’re not earning enough money to pay their rent,’ he said.

A recent poll on a real estate group on Facebook showed landlords would hike rents in repsonse to new taxes and possible rent caps

A recent poll on a real estate group on Facebook showed landlords would hike rents in repsonse to new taxes and possible rent caps

Mr Klaric said government assisted market rental caps on new housing complexes being built would be a better solution.

‘They’re building all these new units, but they still may be unaffordable for people.’

Mr Klaric said that the problem would affect everyone because people such as essential workers were being priced out of major cities.

He claimed tax increases for landlords was like ‘trying to plug the holes on a leaking bucket’.

Victoria has a social housing wait list of more 65,000, NSW has more than 50,000 and Queensland’s social housing wait list is about 27,000.

NSW Premier Chris Minns recently ruled out rent freezes saying they push landlords out of the market and drop overall rental supply.

But Queensland Premier Annastacia Palaszczuk gave a strong indication that rent caps were a possibility last month when she said the government is ‘looking very seriously’ at how the policy could be implemented.

Victoria is also considering them and has already introduced an additional land tax.

Roughly 860,000 Victorian investment, holiday home or business property owners are set to be slugged $4.7 billion over the next four years under a Covid-19 debt levy announced in Tuesday’s budget.

From January, property investors will pay a fixed $500 fee each year for landholdings worth between $50,000 to $100,000, $975 if above $100,000 and an extra 0.1 per cent for every dollar above $300,000.

It will mean investors pay $1300 a year on average in extra tax.

A short supply of rental properties is causing prices to surge across the country, particularly in capital cities (pictured: renters line up to view a Bondi apartment)

A short supply of rental properties is causing prices to surge across the country, particularly in capital cities (pictured: renters line up to view a Bondi apartment)

Real Estate Institute of Victoria chief executive Quentin Kilian said the changes would force landlords to leave the sector, diminishing rental supply and fuelling cost pressures.

In his first public appearance since handing down his ninth budget, Treasurer Tim Pallas ruled out an outright rent freeze to curtail a 25 per cent rise in Melbourne rents over the past five years.

But he flagged the Andrews government would look at a rental cap or another form of market intervention to ease the pain for the one in three Victorians who are tenants.

‘There has to be a point at which the community says this has gone beyond reason,’ he told a post-budget Victorian Chamber of Commerce and Industry lunch on Wednesday.

‘I’m not suggesting that we won’t intervene in the way the housing market operates … it’s a question of what interventions are the most appropriate.’

Premier Daniel Andrews blamed a lack of housing supply rather than land tax for driving up rents.

‘Anybody who is applying for a rental and finds that they’re one of 25 different applications or 50 even … they can tell you there’s not enough supply,’ he said.

‘That’s why we need to make better decisions and make them faster.’

His government will hand down a housing and planning strategy statement in September to address the lack of available homes.

Mr Andrews noted land tax is deductible for some landlords under the federal tax system and denied the budget would punish ordinary Victorians.

News Related


EXCLUSIVE: Read the blunt comments Brittany Higgins and Lisa Wilkinson made about top politicians over mimosas two weeks before going public with rape claims - as they dish salacious details about life in Canberra

Five-hour planning meeting before Project interviewMade comments on a range of politicians and reportersShared salacious details about Parliament House  Read more »

The 'society swans' of 2023: Tatler unveils its 'modern muses' from the Spencer twins to a property influencer and a Zimbabwean billionaire's daughters

Tatler has unveiled it's 'modern muses' in latest issue - including the SpencersREAD MORE : For all the latest Royal news, pictures and video click here  Read more »

Channel Seven's big TV win with Bruce Lehrmann interview - smashing competition from Nine's 60 Minutes exposé of Ben Roberts-Smith

More than half a million people tuned in to Channel Seven to watch Bruce Lehrmann give his first interview since he was accused of raping his former colleague Brittany Higgins. ... Read more »

We let our kids, 6 and 10, swim in the ocean ALONE and go out at night - parents judge us but we're teaching them to fend for themselves

Sarah and Jason employ a 'lighthouse  parenting' styleThey let their two oldest kids swim alone at the beach Some parents disagreed with their 'hands off' approach Read more »

Samantha Armytage encourages fans to get behind the Big Freeze - after making history as the first woman to plunge into icy pool at charity event

Samantha Armytage is throwing her support behind the upcoming Big Freeze, urging fans to help raises funds to fight Motor Neurone Disease. The 46-year-old made history as the first woman ... Read more »

EXCLUSIVE: Sydney socialite, 34, known for only dating millionaires announces quickie engagement with 50-year-old 'playboy' investor - months after marriage bust-up with wealth advisor

Annabelle Price, 34, is engaged to 'playboy' investor Tom Fennell, 50Former model showed off her engagement bling on InstagramDo you know more? Email [email protected]  Read more »

'Predatory' Cricket Australia executive groped two male colleagues' private parts after night of heavy drinking - leaving one with years of mental health issues - as he fights to avoid prison and 'maintains his innocence'

Prosecutors have called for a former Cricket Australia executive to be jailed over his ‘predatory’ groping of two colleagues. Timothy Joseph Whittaker, 38, returned to the Melbourne Magistrates’ Court on ... Read more »

Bruce Lehrmann lashes out at Scott Morrison and Labor Party elites saying his treatment after Brittany Higgins' rape allegations was a 'disgrace'

Bruce Lehrmann slammed former PM Scott Morrison He said Australia would be better once he left politics Read more »

'Serious' fears for woman, 21, and her three-month-old baby who vanished without a trace on a motorway at 3am

A 21-year-old woman and her baby have gone missing from Wilson’s Creek, near Mullumbimby, NSW, with police saying there are ‘serious concerns’ for their welfare. Jordyn Parkins, 21, and her three-month-old ... Read more »

Huge change for workers in Australia as bosses are warned they face two years in prison for 'exploiting' staff

Australian employers have been warned they face a two-year prison sentence if migrant workers are exploited under a fresh government crackdown. Reforms to expand protections for some of the most ... Read more »

Two Australians on death row in Vietnam are granted clemency after Anthony Albanese's visit to the country

Two Australians facing the death penalty in Vietnam have been granted clemency after Prime Minister Anthony Albanese visited the country on the weekend. ‘I made representations to the Prime Minister ... Read more »

Devastating twist in the case of a 14-year-old girl who disappeared over a month ago

14yo Shyanne-Lee Tatnell is still missing Last seen in Launceston over a month ago Hopes CCTV film of cars could help find her  Read more »

Video: Holly Willoughby wore white to show her innocence...then it was business as usual: Body language expert Judi James reveals how the star tried to steer This Morning away from Phillip Schofield drama - but couldn't hide her tension on air

Read more »

Chezzi Denyer doesn't look like this anymore! Podcaster stuns with amazing hair transformation as her celebrity pals go wild over the youthful makeover: 'You look 20 years old!'

Chezzi Denyer has given herself a youthful makeover. The 42-year-old shared her new pink hairdo to Instagram this week, showing off longer locks in a gorgeous rosy hue. Previously sporting ... Read more »

Video: Jared Leto, 51, and rumored new girlfriend Thet Thinn, 27, are spotted together for the first time as they arrive at Berlin hotel

Read more »

I'm 24 and I got pregnant at the same time as my 44-year-old mum - it's incredible to see my son and little brother growing up together

The mother and daughter from Greater Manchester even had joint baby showerREAD MORE: Mother, 54, welcomes baby after spending £100,000 on IVF  Read more »

I'm free - and I'm hungry for love! How Kathleen Folbigg warned she would be a 'danger to men' because of her pent-up 'lust' in VERY honest letters before she was freed from jail after 20 years

Kathleen Folbigg has been pardoned and walked from jailConvicted child killer now a free womanJail letters reveal her desire to meet a man  Read more »

Baby joy! The Block winner Ozman Abu Malik welcomes fourth son with wife Jasmin: 'We couldn't be happier'

The Block’s Ozman ‘Oz’ Abu Malik made series history last year when he took home a record $1.6million profit on the property he built with his best mate Omar. And on Monday, ... Read more »

Footy legend Phil Gould reveals the shocking salary he received to coach the Bulldogs to the 1988 premiership - and you won't believe what he paid for his first house in Sydney

Gould is now Bulldogs head of football First made his mark in 1988, aged just 30 'Gus' was paid a pittance to win the competition  Read more »

Video: Tributes paid to 'angel' schoolgirl, 12, who died in Bournemouth beach tragedy as brave teenagers reveal how they pulled a drowning man from the water on day of horror

Read more »

Furious Aldi shoppers slam retailer over 'copycat' move: 'It is completely useless'

Aldi shoppers have gripes with self-serve tills The registers are being rolled out across the countryOne woman 'refuses' to use them  Read more »

How Albo and Tanya Plibersek asked FIVE questions about Brittany Higgins in Parliament after Lisa Wilkinson suggested they could do her bidding

Albanese and Plibersek asked Higgins-related questionsDuo were namedropped by Lisa Wilkinson in interview Read more »

Australia's most popular vehicles are revealed - and an unsurprising car-maker that topped the list

More than 100,000 new cars delivered in May Sale of new vehicles up 12 per cent from 2022 Toyota Hi-Lux was the top-selling model with 5,772 Read more »

Carrie Bickmore rocks a laid back look as she enjoys a weekend getaway in Byron Bay with friends - amid rumours she's 'getting close' to co-star Tommy Little

Carrie Bickmore looked effortlessly stylish on Sunday as she spent some quality time with two of her friends at her luxury getaway home in Byron Bay. The TV presenter, 42, dressed ... Read more »

Melissa Caddick's parents to get $950,000 payout if they move out of the luxury apartment Australia's most notorious fraudster bought them

Barbara and Ted Grimley will be paid $950k to leave property  Read more »

EXCLUSIVE: How Brittany Higgins waited 11 days until she took a photo of a large bruise she claimed came from Bruce Lehrmann pinning her down - as he claims it's 'fabricated'

Photo of a bruise on Brittany Higgins leg questionedShe signed a form confirming it was from her alleged assaultMs Higgins strongly denies fabricating allegationsMr Lehrmann has always maintained he is innocent  Read more »

New Sunrise host Matt Shirvington's bumper salary is revealed - but here's why he's still earning only half what Kochie made working four days a week

New host of Sunrise Matt Shirvington will have to win over the viewers first if he hopes to earn as much as his predecessor David ‘Kochie’ Koch. According to a ... Read more »

Why Kathleen Folbigg was suddenly pardoned after spending 20 years in prison - as 'new evidence came to light'

Kathleen Folbigg pardoned on MondayShe spent 20 years behind bars  Read more »

Never miss a Monday! Rita Ora smiles as she flashes her pert bottom in bright pink leggings before heading off to a Pilates session

She’s been turning heads as she makes her way to her daily workouts in Sydney. And Rita Ora proudly flashed her bottom in a pair of watermelon-coloured tights before heading ... Read more »

Matt Shirvington like you've never seen him before! New Sunrise host sizzles in a shirtless photo shoot that Seven tried to scrub from the internet

He’s the new face of Channel Seven’s family-friendly breakfast show Sunrise. But squeaky clean Matt Shirvington has a rather racy past as a shirtless model. A rare photo has resurfaced ... Read more »
Kênh kiến thức kỹ năng, phát triển bản thân, hướng nghiệp, blog nhân sự