Attacking investors and threatening their ability to charge what rent they want, will not help fix the rental crisis, according to developer, Harry Triguboff.
Triguboff, the managing director of Meriton Group, says the “hysterical” reaction to current rent rates has to stop.
“Our famous politicians now think that if they attack the people who lease property, they will gain votes,” Triguboff says.
“It’s important to know that rents have moved no more than inflation if we take into account the rent drops during Covid. For those two years, the renters had a ball because many foreigners left and there was an immediate oversupply of rental accommodation.”
He says now the market is returning to normal supply and demand.
“But if the government threatens investors daily that they will charge too much, what investor will ever come here?”
Triguboff says the lack of investors means many of the sales in his projects are to owner occupiers.
“So, the pressure is on for rents to rise.”
