65 Percent of Renters Take More Than 3 Months to Find a Home

MELBOURNE, Australia, April 22, 2010 - A recent survey of 1400 Australian renters conducted by property portal
Realestateview.com.au has found that 65 percent of people take more than 3
months to find a rental home.

Realestateview.com.au (www.realestateview.com.au/) General Manager
Petra Sprekos said that site users were confirming the common view that for
the past 5 years demand has far exceeded supply in the rental market and that
finding a rental home can prove extremely difficult.

"Most renters report that they have problems finding a home. It is very
concerning that 65 percent of respondents said it took more than three months
to secure a rental home.

"A wait of three months to find a new home means that if you only have a
lease that is 12 months in duration you would need to spend a quarter of your
time looking for a new home.

"The survey also found that renters knew they had to be flexible if they
were to find a home with more than half willing to look in other suburbs or
for homes without the features they wanted.

"One in ten will even look at share accommodation to find a place to rent
and just under half will increase their budget.

"It shows that renters will trade quality and location before they
increase their budget," Petra Sprekos concluded.

QUESTION: Did you have to undertake any of the following activities to
increase your chances of finding a rental property?

    Response Percentage below:

    Looked for property in 'further out' locations than originally planned -
    46.3%
    Looked for properties of a lower quality than originally planned - 49.3%
    Looked for properties of a smaller size than originally planned - 42.9%
    Looked for share accommodation - 15.6%
    Increased your budget - 59.5%

realestateVIEW.com.au (www.realestateview.com.au/) is the 3rd
largest property portal in Australia and is growing faster than all of the
other major portals.* With over 90,000 properties online,
realestateVIEW.com.au covers:

    residential real estate
    (www.realestateview.com.au/Real-Estate/Residential/Buy.html),
    commercial real estate
    (www.realestateview.com.au/Real-Estate/Commercial/Buy.html),
    businesses for sale
    (www.realestateview.com.au/Real-Estate/Business/Buy.html),
    rental properties
    (www.realestateview.com.au/Real-Estate/Residential/Rent.html)
    and more

* Based on Nielsen-NetRatings unique visitors growth statistics for March
2010.

    MEDIA COMMENT:
    Robert Larocca
    +61-3-9205-6622 or
    +61-409-198-350

Robert Larocca of realestateview.com.au, +61-3-9205-6622 or +61-409-198-350