The Real Estate Institute of Australia (REIA) President, Mr Hayden Groves said the Greens recent media release proposing a rent freeze on residential investment properties lacks a fundamental understanding on the key issues that will help Australian renters. 

Mr Groves said that while the plan was well-intentioned it will do nothing for Australia’s long term housing supply crunch.

“The real estate industry, particularly, property managers and owners have implemented the rental eviction moratorium during the past two years of the COVID-19 pandemic.

“At the same time, rent has increased in areas where there is a chronic shortage of supply and unless this is addressed, the situation will worsen.

“Dealing with supply in a real way over farfetched and unrealistic proposals about a national rent control will alleviate pressures on renters.

“Australia’s State and Federal Governments need to focus on encouraging supply and investment in private property markets as without more houses and more investors supply issues will continue to worsen,” Mr Groves said.

Mr Groves has urged tenants to communicate directly with their property manager if they have concerns about meeting their rent commitments.