From the ABC News.... The Housing Industry Association (HIA) says home-building activity is almost at a standstill and people will soon be bidding at auctions to rent a house. The HIA says the shortage of homes needed to house the population will blow out to 45,000 during this financial year... Rest of article here I think the concept is certainly valid- but you'd need to ensure that all bidders are pre-qualified. Speaking from experience, I'd rather have a better tenant paying $10 a week less than a problem-prone one any day!!