While the nation’s capital may not be the cheapest city in the country to find a rental property, it is considered the best spot tot be a renter. But what impact are progressive tenancy rights having on the ACT property market? And should other states and territories follow suit?
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00:00University student Jess Preston applied for dozens of rentals before securing this one.
00:09Someone took a chance on me.
00:12The hunt for a home was exhausting, but Jess felt some relief knowing her two cats played no part in an application's success.
00:21I cannot live without my babies. They help my mental health, they're good for my physical health.
00:25In Canberra, landlords can't prohibit pets without approval from the Civil and Administrative Tribunal.
00:32It's one of a raft of laws that make the nation's capital the country's most renter-friendly jurisdiction.
00:39There's also strict limits on rent increases, minimum energy efficiency standards and a ban on no-cause evictions.
00:48For tenants elsewhere in Australia, we've heard a lot about this sense of anxiety or dread around potential eviction, around a potential rent increase.
00:55And not having to have that looming over you, that constant threat, it actually makes a day-to-day difference.
01:00With each new law, the chorus of critics gets louder. Their fear, a drop in investment and an exodus of landlords.
01:08Phil Andrews sold his investment property two years ago.
01:13The environment became one where it was no longer viable to invest in it.
01:17Chris Wilson has been selling homes in Canberra for three decades. He says landlords are looking to sell like never before.
01:25I'd probably get two to three a week wanting appraisals done on their home with a view to selling it.
01:31The long-time Labor government in the ACT is unapologetic about its pro-tenant strategy.
01:38And with vacancy rates in the capital high, supply strong and rental price growth stable, the loss of landlords isn't a concern.
01:47But that's not to say it wouldn't be elsewhere.
01:50I think it's really horses for courses. There's a lot of areas around the country where vacancy rates are extremely tight.
01:56And I think it's those sort of areas where if we did see a real investor pullback, where we could see vacancies become even tighter.
02:03A good example for some, but a warning for others.