澳大利文档教材亚的住宅投资跟个人租房业(英文版).pdfVIP

Urban Studies, Vol. 36, No. 2, 255± 269, 1999 H ousing Investment and the P rivate Rental Sector in A ustralia Andrew Beer [Paper ® rst received, July 1997; in ® nal form , January 1998] Su m mary. O ver the past tw o decades, the p rivate rental sector has changed its role within the A ustralian housing system as it has moved from being a tenure of transition, com prised principally of young households saving to enter home-ow nership, to a tenure of long-term occupancy . Rising real house prices, soaring interest rates, changes in the natu re of paid work and an increase in the number of household deaths th rough divorce or separation, has seen an increasing proportion of households either unable to enter home purchase, or u nable to m aintain their position within this tenure. In addition, access to publicly provided housing has declined. This paper considers the changing environment for private rental housing in Australia and examines the nature of investors and the size of their investment in the housing stock, as well as the im pact of their investment strategies on the operation of the housing market. Private rental ha s often been considered the bine to reduce access to both public housing `lost child ’ of the Australian housin g system and hom e purchase. This paper canvases the and Australian housin g studies. In the 30 changes that hav e taken plac e both in the years from 1945, private tenancy was largely supply and dem and for private rental housing ignored by academ ics, policy-m akers and the and argues that the restructuring of the econ- population at large as Australia’ s infatuation omy ha s had