Housing Policy in Australia by Hal Pawson & Vivienne Milligan & Judith Yates

Author:Hal Pawson & Vivienne Milligan & Judith Yates
Language: eng
Format: epub
ISBN: 9789811507809
Publisher: Springer Singapore

6.2 Australia’s Private Rental Sector

In this section, we first discuss the definition of private rental housing, and then explore the boundaries of Australia’s PRS, which includes a distinct marginal rental component (differently regulated from the mainstream sector), as well as a burgeoning short-term rental element. We then finish by outlining, in turn, key characteristics of the nation’s private rental stock and tenant population.

6.2.1 Sector Definition and Scope

As it has been traditionally treated in policy discourse and statistical analysis, private rental housing has often been conceptualised as a residual, i.e. the housing that remains after accounting for social renting and home ownership (Oxley et al. 2011).

More positively, the PRS could be simply defined as privately owned rental housing, made available to tenants through market mechanisms and at market prices. As embodied in Australia, however, a variety of identifiable sub-sectors is encompassed within this overall definition (see Table 6.1). While the first category in Table 6.1 accounts for the vast majority of sector dwellings and tenants, each of the other components has a distinct mode of investment and management, as well as its sub-sector-specific policy and regulatory challenges. These are explored later in this chapter.Table 6.1Australian private rental typology

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