Rocky agent reveals why renters are escaping the market
AN UNEASY rental market is pushing more Rockhampton tenants to buy their own home, says one local agent.
Principal of Mr Real Estate, Jason Rayner, said current tenants were looking to escape the uncertain future of rentals as a new report reveals the region's residents were under rental stress.
Mr Rayner said he received a lot of enquiries from current renters wanting to start their portfolio.
"They are feeling uneasy because the landlords are talking about selling up," he said.
"People aren't coping well with renting and feeling unsure about the future."
Despite Mr Rayner saying Rockhampton had "the most affordable properties on the eastern seaboard", he acknowledged the need for economic practice to give the market stabilisation.
"Job fronts need to be strengthened as we are sometimes overlooked by state government," he said.
With nearly 20 per cent of Rockhampton tenants the younger generation, Mr Rayner said they were also the most popular age group looking to buy their own property.
He was shocked to learn the dramatic drop for over 65s in the rental market saying he empathised with those struggling to make payments.
"Older generations are really struggling as they have no way of getting future income," he said.
"It's a tough gig out there for our seniors who have no other option."