Renters navigate tough Australian market, plus other headlines

For PropertyGuru’s news roundup, the rising cost of living and a highly competitive rental market are pushing Australian renters to adopt innovative strategies to secure homes. In other headlines, the Philippine Department of Transportation focuses on enhancing safety protocols and integrating digitalisation to modernise its railway systems. Lastly, penthouses, long seen as a symbol of luxury, are gaining popularity in India’s urban centres.

How renters are navigating the tough Australian market

The rising cost of living and a highly competitive rental market are pushing Australian renters to adopt innovative strategies to secure homes. Some renters are alleviating pressures by seeking out cheaper properties, moving to more affordable areas, or exploring opportunities in the housing market. For lower-priced rentals, the median number of days a property is listed is shorter compared with more expensive rentals; this implies that demand and competition for cheaper properties are currently higher from renters. New rental listings are declining, and rents are rising at a faster rate compared to those in capital cities. These trends may soon become apparent in regional markets as well. To counteract the high cost of renting and the shortages in rental stock, more Australians may also be considering property ownership. Loan approvals to first-home buyers were 9.8 percent higher in the 12 months to September 2024 compared with a year prior. This could reflect an increase in renters transitioning to the buyers’ market. Experts note that these trends are likely to persist as demand continues to outstrip supply, according to PropTrack.

Philippine transpo dept. prioritises safety and digitalisation in the railway sector

The Philippine Department of Transportation (DOTr) focuses on enhancing safety protocols and integrating digitalisation to modernise its railway systems. To improve efficiency and passenger experience, the DOTr also works on advanced monitoring systems and training initiatives to ensure safer travel. The department has purchased additional equipment and looks forward to developing the role of virtual reality (VR) in safety training. BusinessWorld reports that these measures align with the government’s broader efforts to improve public infrastructure and promote sustainable transportation in the country.

Penthouse meaning, benefits, designs in India: All you wanted to know

Penthouses, long seen as a symbol of luxury, are gaining popularity in India’s urban centres. These top-floor units often boast exclusive features like private terraces, panoramic views, and high-end interiors, making them highly sought after among affluent buyers. Housing.com highlights the rise of duplex penthouses and eco-friendly designs that cater to the evolving preferences of Indian home buyers. The report also underscores the benefits of penthouses, including privacy and bespoke living spaces.

The Property Report editors wrote this article. For more information, email: [email protected].