A recent report released by Riskwise Property Research revealed a combination of low-interest rates and 'fear of missing out' had caused many rental options to be taken off the market in favour of selling.

This, combined with a shift away from higher-density living, means that regional areas such as the Highlands remain an attractive option for potential home owners.

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Pete Wargent, co-founder of property company BuyersBuyers.com.au, said he believed the tough conditions would continue beyond 2021.

"This is leading to a chronic shortage of rental properties across many suburban, outer suburban, coastal, and regional locations, and will be reflected in surging rents in the June 2021 quarter and beyond," Wargent said.

"Ultra-low interest rates and fear of missing out are still pushing dwelling values to new highs with double digit growth still on the horizon for many areas in the country, although things will most likely calm down in the second half of the year, as buyers become more circumspect and more listings come online".

But what does the shortage mean for renters right now?

"I'm very frightened I'm going to be homeless."

Tammy shouldn't be struggling to find a home.

A full-timer worker with a long rental history, Tammy has always been able to find somewhere for her, her son who she raises alone and their two pets.

Until now.

"I've been looking for a property since February and I just cannot find one," she said.

"I could rent a unit or an apartment but I can't because I have a dog and a cat. As for a house, there's cheapish houses but they're not good. They don't have good heating, don't have a garage."

A long-term renter, Tammy tends to stay in houses for at least four years but with her current landlord wanting to increase the rent further she has no choice but to find alternative solutions.

"It's just getting harder and harder," she said.

"I'm a single mum, I have no family, no help, no support so I'm literally on my own. I'm very frightened I'm going to be homeless.

"Over the last two years this has just gotten worse and worse. There's so many people in the same boat. I put something up on Facebook to see if anyone would be interested in signing a lease with me.

"Look, it's not an ideal situation, it's not something I want to do but I've been backed into a corner. I don't know any other way out."

"Mum and I are just ready to give up"

Al, 41, is a recent arrival to the Highlands and is currently staying with family as he and his 72-year old mother search for a place of their own.

Both on a disability support pension, their budget is modest and have been blown away by how expensive rents have become.

"It is [difficult], we've applied for a couple and the real estate company don't get back to you at all," Al said.

"At the moment we've been staying with family but mum and I just need to find a little place and say this is ours.

"I've been on real estate sites over the past few days and the prices have gone through the roof. There was one for $300 a week and when I checked back it had gone up to $450 and that was only a little two-bedroom place."

With a Senate inquiry into the Disability Support Pension recently announced, Al said governments needed to do more to help people like himself simply find a place to live with rates increasing at an alarming rate.

"We've been down here for about four months now and it's just getting harder and harder. We love calling this place home, especially around the Hill Top area. People are nice and polite."

"The government needs to pull its finger out and help people like us on disability support pensions afford a house. We've had no luck through them [community housing] either.

"Mum and I are just ready to give up"

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