65 Per Cent Of Renters Take More Than 3 Months To Find A Home

Online, June 23, 2010 (Newswire.com) - A recent survey conducted by property portal Realestateview.com.au has found that 65 percent of people take more than 3 months to find a rental home.

Realestateview.com.au General Manager Petra Sprekos said that site users were confirming the common view that for the past 5 years demand has far exceeded supply in the rental market and that finding a rental home can prove extremely difficult.

"Most renters report that they have problems finding a home. It is very concerning that 65 per cent of respondents said it took more than three months to secure a rental home."

"A wait of three months to find a new home means that if you only have a lease that is 12 months in duration you would need to spend a quarter of your time looking for a new home."

"The survey also found that renters knew they had to be flexible if they were to find a home with more than half willing to look in other suburbs or for homes without the features they wanted."

"One in ten will even look at share accommodation to find a place to rent and just under half will increase their budget."

"It shows that renters will trade quality and location before they increase their budget." Petra Sprekos concluded.

QUESTION: Did you have to undertake any of the following activities to increase your chances of finding a rental property?

Response PercentLooked for property in 'further out' locations than originally planned46.3%Looked for properties of a lower quality than originally planned49.3%Looked for properties of a smaller size than originally planned42.9%Looked for share accommodation15.6%Increased your budget59.5%realestateVIEW.com.au is the 3rd largest property portal in Australia and is growing faster than all of the other major portals.* With over 90,000 properties online, realestateVIEW.com.au covers residential real estate, commercial real estate, businesses for sale, rental properties and more

* Based on Nielsen-netratings unique visitors growth statistics for March 2010.