65 per cent of renters take more than 3 months to find a home

A study recently conducted by realestateVIEW.com.au has determined that more than half of renters take longer than three months to find their next rental property.

Online PR News – 14-July-2010 – – 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.

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.