Home Rental Increase by 13%

by joy.manginsay 14. February 2012 18:51

According to RUN Property CEO Rob Farmer said 24 suburbs in Sydney and 18 in Melbourne saw rent increases of more than 6% for tenants in January, compared with the same time last year.” Rent in Australia’s suburbs have increased by up to 13% in the last year with the biggest hike at Edge cliff in the eastern suburbs. Based on the latest report from Run Property shows that tenants are paying about $60 more a week compared last year and showed that there was still value in investment properties. The popular suburbs close to beaches, major shopping centers or train stations continue to go from strength to strength for investment property, Mr. Farmer said. This means that it starting to flow back into investment property, sales market is starting penetrating the market and buying opportunities are there.

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