As a young person, there comes a certain point when you (or sometimes your parents) decide that it's time to leave the nest and head out on your own. However, what can be an exciting and often defining moment in a person's life; will often stumble at the very first step – Where am I going to live?
It's a question that is becomes more daunting every year, as the housing and rental market in the Swan Hill region becomes harder & harder for a young person to enter. House prices have remained comparatively low and relatively steady over the last 6-7 years, and with the current low interest rates it's a fantastic time to buy. However buying a house is generally not an option for anyone leaving home for the first time, so out of necessity young people must turn to the rental market.
With 75% of people aged 15-24 renting in Australia, it's pretty clear to see that the barriers to entry are much easier to overcome. But it is difficult to argue against the fact that there is clearly too much demand and not enough supply, particularly in Swan Hill. The combination of low house prices and high demand for rental properties is fantastic news for investors, but ultimately is having a huge impact on young people.
Hopefully increasing prices & low availability won't force our local youth to look elsewhere to start their careers and families, or deter new young people from joining the community.