Residential rents are on the rise.
What is less well known, is that high income households are becoming a much larger cohort in the residential rental market.
In 2011, high-income households ($2000/week or more) constituted 19% of the rental market. By 2021, this had grown to 33%.
At the other end of the spectrum, low-income households ($800/ week or below) are being squeezed out of the rental market and must increasingly rely on social and affordable housing for their accommodation needs.
The data suggests two mega trends:
1. An opportunity for private developers to build premium rental accommodation targeting wealthier households.
2. The need for instituted investment to scale the provision of social and affordable housing.
For more data driven insights, visit FLNT.
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