Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Rents to double in four years

Staff Reporter 1 minute read

Median asking rents rose by double digits in all capital cities over the last 12 months, Australian Property Monitors’ Quarterly Rental Series revealed today.

Melbourne weekly rents grew the most, rising by 17 per cent for houses and 15 per cent for units. Perth wasn’t far behind with house and unit rents rising by 14 per cent.

The cost of renting is also set to increase further – APM has forecasted a rise in rents of 50 per cent over the next four years.

APM attributed the continuing rise in rental yields to critical supply shortages, strong migration patterns and the rising cost of home ownership.

“Given the lag from approval to completion in building construction, the flow-on effects are likely to continue throughout the rest of this decade and beyond,” said Michael McNamara, APM's general manager.

Advertisement
Advertisement

Published 04-04-08

Rents to double in four years
default
TheAdviser logo
default
more from the adviser
first home buyers ta Brokers wrote half of FHLDS loans

The latest figures for the FHLDS suggest that brokers assisted in...

percent arrow down ta Low repayment loan for brokers launches

Specialist lender TrailBlazer Finance has launched a new low repa...

handshake contract ta PLAN bolsters lending panel

The aggregator has announced the addition of Better Choice Home L...

FROM THE WEB