Berlin, Dublin, Zurich are some of the challenging housing markets we’ve reported on for those relocating to those cities and need to find long-term housing.

Now, Australia has joined the growing list of housing battlefields. We’re seeing struggles in popular Australian cities which far exceed those in other tough housing markets. 

As a result of stronger government rent controls and rising interest rates impacting mortgage costs, there has been an exodus of landlords from the Australian property market. At times, this means an all out tussle for a home, no matter what size.

Hotspots: Sydney and Melbourne

Sydney and Melbourne's rental vacancy rates are below 2%. Rents are rising and inventory is low. As a landlord’s market, assignees may find themselves standing in line to view properties, sometimes alongside 30-50 people.

Landlords do not take appointments. Usually, there is an allotted Open House, and a 15-minute viewing time. Prospective tenants will be led through the property quickly and may find that one or more have already offered above the asking price.

It is important that assignees are prepared to make a fast decision if they see a property they like.

Making Preparations

If you have employees transferring to Australia, preparation is key.  Here are some crucial facts to be aware of:

Assignees are unlikely to have an Australian credit history nor references from previous Australian landlords. But these disadvantages can be overcome by having plenty of supporting documents available:

• You will usually need at least two identity documents (e.g. passport, driving license).
• Rental history and recent rental receipts.
• If possible, references from previous landlords (in English), or proof of home ownership.
• Employment details and history, and current contract with proof of income.
• Bank details and copy of a recent bank statement.
• Include an interesting bio in your application pack.
• Be ready to extend a stay in temporary housing if necessary.
• Ensure that rental applications are fully filled in. This is normally done online, with supporting documents attached.

Of course, our Going-there Destination Consultants assist at all stages of the rental process, including applications, arranging viewings, lease negotiations and property inventories. GT operates not just in Sydney and Melbourne, but also in Perth, Darwin and Brisbane.

To learn more, contact Scott Addaman or Tyler Byrne of our client relations team.