Newspaper article Gympie Times, The Qld.

Rent Woe for Seniors; Pensioners Pushed out of Growing Market

Newspaper article Gympie Times, The Qld.

Rent Woe for Seniors; Pensioners Pushed out of Growing Market

Article excerpt

SCOTT KOVACEVIC

Reporter

scott.kovacevic@gympietimes.com

GYMPIE'S aging residents could find themselves squeezed out of the region's booming rental market.

With prices rising as the market continues to thrive, and Real Estate Institute Queensland data showing residential vacancy rates in Gympie dropping from 3.7% in September last year to 2.2% in March this year, the boom was having an unfortunate side-effect for older residents on a fixed pension.

It was compounded by the region's expected aging demographic over the next decade.

Gympie Regional Realty property manager Debra Mason said it was a trend which had flown under the radar, but was now becoming visible as the region experienced the largest rental price jump she had seen in 13 years.

"It's great for real estate, we're pushing the market up, but when they come on the aged pension they can't afford it," Ms Mason said.

"It's something either no one has thought about, or no one's thought to do something about. …

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