Owners and investors snap up city properties

Renters are having difficulty securing affordable homes in the Limestone Coast, as real estate is snapped up by owners and investors.

Despite rising house prices in the Limestone Coast, real estate has become hot property with people moving to the area, as well as investors, resulting in a lack of rental supply.

Gebhardts Real Estate property manager Sharyn Ferguson said she has seen more demand for housing in the last 12-18 months then she ever has, despite working in the industry for 44 years.

“Due to COVID-19 people are moving from the city to the country and investors are buying properties here because they are cheaper in regional areas,” she said.

“We are getting an abundance of enquires for every house.

“If the properties are priced right, we are getting absolutely unidated with applications on the one property which makes it harder for people looking for housing.

“As soon as something comes on the market, people are straight onto it, just trying to find a home.

“I see a lot of people just trying to get any property they can.

“We have found we have slowed down a bit with enquires purely because the properties we have for lease are in the higher price range, starting at about $350 a week which restricts it to only people who can afford to pay that type of rent.”

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