Landlord move Victorian tenants are begging for
Another 22 per cent are unsure what features their home has, while 54 per cent feel completely powerless to make upgrades themselves, according to the PropTrack Origin Renter Reality Report released today.
Despite this, a significant number of tenants are still willing to pay more for better homes, with 38 per cent saying they would fork out extra for smart energy features. But those homes are few and far between.
Block star's Melb project set to land $8m deal
Agent's bizarre AFL move to sell Melb home
PropTrack senior economist Anne Flaherty said the findings painted a stark picture of a rental market falling behind on liveability, comfort and control.
'Many of these homes were built when energy was cheap, and insulation or efficiency just wasn't part of the conversation,' Ms Flaherty said.
'But that legacy is hitting renters hard.
'They are paying for poor performance through higher bills, and they have no ability to change it.'
Ms Flaherty said short leases and ownership rules mean renters often cannot make even simple changes to their homes, let alone major upgrades.
'With average tenancies under two years, renters are reluctant to invest in a property they may be forced to leave,' she said.
'They want more control, but the system just isn't built for it.'
The report also shows 59 per cent of renters believe landlords should be responsible for improving energy efficiency, placing the pressure squarely back on owners.
While the cost-of-living crisis has made renters more conscious of their energy use, the PropTrack senior economist said many are still sacrificing basic comforts like heating and hot water.
'Renters are cutting back where they can, but without proper insulation or efficient heating, it's just not enough,' Ms Flaherty said.
'They're stuck paying the price for decisions they don't get to make.'
Victoria's new rental minimum standards now require ceiling insulation and efficient heating in all new tenancies, but Ms Flaherty said the rollout is still gaining traction.
'There are still huge gaps in awareness, and enforcement,' she said.
Origin Energy General Manager of Retail Catherine Anderson said renters were not completely helpless, and even simple changes could shave hundreds off the annual energy bill.
'A door snake can reduce heat loss by up to 25 per cent. That is huge for such a low-cost fix,' Ms Anderson said.
'There are temporary insulation kits for windows, portable blinds, and smart plugs that stop standby power.
'These are simple, renter-friendly options.'
Ms Anderson said renters with a smart metre could log into their retailer's app to see their usage patterns in real time and adjust habits accordingly.
'More federal rebates and energy incentives were on the way, including new battery schemes, but renters needed support navigating the,' she said.
'Renters want better homes.
'Landlords need more reason to deliver them.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
ABC News
2 hours ago
- ABC News
'Perfect storm' points to US recession and RBA interest rate cut
Global financial markets have responded swiftly to much-worse-than-expected US economic data. Total non-farm payroll employment rose by 73,000 in July, which was well below expectations of over 100,000 jobs. However, combined with "shocking" revisions to employment data from May and June, there were 258,000 fewer jobs than previously expected. The weak data followed another round of changes to reciprocal tariffs. US President Donald Trump signed an executive order on Friday, Australian time, that adjusted so-called reciprocal tariffs on many countries, with new levies ranging from 10 per cent to 41 per cent. Mr Trump told NBC News in a phone interview that he was open to more compelling offers, but it was "too late" for some nations to avoid duties as of next week. "It was a perfect storm," Marcus Today senior portfolio manager Henry Jennings said. "Weak revisions weighed more than the actual [July data]. "[The employment data for July] could have been explained away." Analysts said there was head-scratching among financial market participants around how the employment data for May and June could have been so inaccurate. Mr Trump responded by sacking Bureau of Labor Statistics commissioner Erika McEntarfer. "Trump blames the messenger, but uncertainty and tariffs are the real cause," Mr Jennings said. "[There has been] too much complacency [in financial markets] and reliance on technology [stocks] which is not the real world or economy. "Chickens coming home to do their thing." Wall Street's benchmark index, the S&P 500, closed down 101 points, or 1.6 per cent. France's CAC fell close to 3 per cent, while Germany's DAX fell 639 points, or 2.7 per cent. Investors sold equities or shares and bought US government bonds, sending their yields sharply down. Bond yields move inversely to their prices. The 10-Year US Treasury bond fell 0.15 per cent to 4.225 per cent. "Bond markets had their biggest one-day drop in yields after a very soft jobs number and big downward revisions to prior months," Jamieson Coote Bond's James Wilson said. "Bond markets are pricing in further economic slowdown and questioning whether the Federal Reserve will now need to cut more aggressively or put the US into recession." FNArena finance commentator, Danielle Ecuyer, said the news of tariffs and disappointing US economic data hit global stock markets that had been flirting with record highs. "US markets went into Friday's disappointing job report at record levels," she said. "When combined with higher than expected global tariffs, including on major trading partners like Canada, and a poor earnings outlook from tech giant Amazon, it was enough for profit taking and sellers to move in. "August is a typically weak and volatile month for equity markets as the northern hemisphere goes on holiday. Wilson Asset Management owner Geoff Wilson told the ABC that global financial markets were now pricing in a serious downturn for the US economy. "Markets are reacting to noise in the data as if a hidden recession has emerged, while the core indicators still align with a resilient economy." He said the latest US jobs report supports the case for an interest rate cut from the Federal Reserve at its next meeting. But that would be a mistake, he argued, if the disappointing jobs data was not reflective of the health of the US economy. "If the Federal Reserve cuts [interest rates] now, it risks undermining its credibility," Mr Wilson said. Mr Trump said on early Saturday morning, Australian time, that the Federal Reserve Board should "… assume control and do what everyone knows has to be done." He later wrote on social media, "Jerome 'Too Late' Powell, a stubborn moron, must substantially lower interest rates, now." Australia's Reserve Bank has previously said it was watching US economic developments, and the interactions between Jerome Powell and Donald Trump, closely. "I can't speak to what goes through Mr Trump's mind," RBA governor Michele Bullock told journalists at the bank's July press conference. "I'm not sure anyone can. "Obviously, I think as we all know, Jay Powell's term is coming to an end. "It's going to be interesting to see what happens from here. "But I would say that generally, the general principle around the world of central bank independence still remains a very firm guiding light," she said. For Australians, overnight developments could be positive. The news saw the Australian dollar climb over 1 per cent to near 65 US cents, which would be welcomed by travellers. It has since edged back slightly. As for mortgage borrowers, analysts say a US recession would force the Federal Reserve to slash borrowing costs. Based on movement in Australian money markets overnight, there could be similar downward pressure on local interest rates. Australia's 3-Year Bond plummeted overnight, down 0.118 points to 3.331. "[The RBA] may be thinking about cutting interest rates by 0.5 percentage points at its next meeting," Mr Wilson told the ABC.
SBS Australia
2 hours ago
- SBS Australia
SBS News in Filipino, Saturday 2 August 2025
Prime Minister Anthony Albanese will unveil an Indigenous economic development plan when he delivers the keynote address at the Garma festival today. Impeachment trial of VP Sara Duterte sparks division in senate. Filipinas qualify for AFC Women's Asia Cup 2026; Australia gears up for the match. LISTEN TO THE PODCAST SBS Filipino 05:54 Filipino 📢 Where to Catch SBS Filipino
ABC News
3 hours ago
- ABC News
Australian cow market takes off as tariffs loom and US burger prices rise
As the world waited this week to see what US President Donald Trump's next move on tariffs would be, the value of cows in Australian saleyards started to soar. Heavy cows, light cows, it didn't matter. If they had four legs, they were in hot demand. At Roma on Tuesday, processors forked out $4.40 a kilogram for heavy cows, which livestock agent Geoffrey Maslen said was incredible. "Records were smashed here at Roma. In my 21 years, I can't remember cows getting $4.40 a kilo," he said. The national processor cow indicator jumped 46 cents a kilogram this week and is close to its record high reached in 2022. Meanwhile, the national dairy cow indicator is at an all-time high of $3.51 per kilogram. At Echuca on Wednesday, some dairy cows made $3.90/kg, selling for nearly $3,000 each. Processors are forking out record money for Australian cows, while the US is handing over record money for lean imported beef. The US cattle herd is at its lowest point since the 1950s due to drought, and its supply of beef for making hamburgers is tight. StoneX Australian livestock and commodities manager Ripley Atkinson said US demand for beef was strong, but Aussie processors were worried about the pipeline of cattle available. "What's fundamentally driving the cow market at the moment is the southern processors and exporters looking to source slaughter stock to maintain kill chains [in abattoirs], maintain their workforce and operate their facilities," he told ABC Landline. "The recent rain in southern Australia, on the edge of spring, has tightened the physical cattle supply and forced those processors to compete harder in northern markets — and that added competition is driving the market." The US has relied heavily on beef imports from Australia and Brazil this year, but is now getting ready to enforce a 50 per cent tariff on Brazilian beef. The tariff is due to take effect on August 7. analyst Matt Dalgleish said the Brazil tariff would bring its beef trade with the US to a halt. "I don't think we're going to see too much Brazilian beef go into the US for the rest of this year, and that will provide opportunities for Australia because our tariff is still at 10 per cent," he told the Country Hour. "So it puts Australia in an even better position. ABC Landline has been told some Australian processors may have paid extra for cows this week in expectation of tariffs stopping the Brazil beef trade to the US. Global Agritrends analyst Simon Quilty said the cow price hike was "not really about burgers, it's about the lack of throughput for southern processors". He also said the federal government's controversial decision to allow US beef imports looked to have "paid off", with Australia avoiding a Trump tariff hike — for now. Watch ABC TV's Landline at 12:30pm on Sunday or on ABC iview.
