A steep increase in evictions has reached ''crisis point'' in Melbourne's fastest-growing municipality.
Police are executing eviction warrants on 22 rental properties every month in the City of Wyndham, where families are feeling the financial sting of rising unemployment and Centrelink cuts harder than anywhere else in Victoria.
Figures from the Victorian Civil and Administrative Tribunal show the number of eviction warrants executed in Wyndham has spiked 40 per cent since 2011, to more than 263 evictions during financial year 2012-13.
Wyndham, which includes Point Cook, Werribee, Tarneit and Hoppers Crossing, is the fastest growing municipality in Victoria and one of the fastest growing in Australia.
Although Wyndham has some of Melbourne's lowest rents, it has the state's highest numbers of job seekers, and an unemployment rate of 9 per cent. Former prime minister Julia Gillard's seat of Lalor, which takes in Wyndham, was the electorate with the highest number of families on single-parent payments in Australia before the change that shifted them to Newstart once the youngest child turned eight.
Wyndham Vale single mother Kylie, 33, wept when she received her marching orders from the real estate agent last Friday.
She and her nine-year-old son have 16 days to leave. ''It was my son's birthday on Saturday so I had to try and keep it as normal as I can for him,'' said Kylie, who did not want her surname printed.
There are some people who seem angry and continuously look for conflict. Walk away, the battle they are fighting isn't with you, it's with themselves.
The first lesson of economics is scarcity: There is not enough of anything to satisfy all who want it. The first lesson of politics is to disregard the first lesson of economics. ~ Thomas Sowell.
Who was the fool, who the wise man, who the beggar or the Emperor? Whether rich or poor, all are equal in death.
Rents are cheap, near new homes for under $350pw are to be found quite easily. Northern/Western suburbs of Melbourne are close to industrial centres so there are werea lot of factory jobs (getting less and less though).
A large base of semi skilled people and immigrants (and refugees) with poor English skills.
With the large number of inestor held properties and these low returns, it reinforces my belief that these areas will be among the hardest hit in the coming downturn in Melbourne property.
The falls could well be significant in these areas and not so bad in others making the average that gets posted here not look too bad. For some investors the average won't mean a thing.
With so many rentals available in these areas and more and more residents appearing to not be able to even pay these amounts, will we see asking rates for rentals drop even more over the coming months? Making the returns even less attractive.
There are some people who seem angry and continuously look for conflict. Walk away, the battle they are fighting isn't with you, it's with themselves.
The first lesson of economics is scarcity: There is not enough of anything to satisfy all who want it. The first lesson of politics is to disregard the first lesson of economics. ~ Thomas Sowell.
Who was the fool, who the wise man, who the beggar or the Emperor? Whether rich or poor, all are equal in death.
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