31. January 2012 19:27
According to APM Senior Economist Andrew Wilson, “Increasing competition for properties particularly from home buyers unable or unwilling to enter the property market has resulted in rising rental prices over the December quarter for both house and units.’ Home prices and poor affordability helped lift rent this quarter for first time to rise hope to improve the real estate market this year. According to Fairfax-owned Australian Property Monitors, median rent for houses increased by 1.1% while rents for apartments and units increased 1.4%. I think this year 2012 will continue to remain soft because of the home buying activity. Home buyers continue to penetrate the real estate market that makes the house price and rents increase. An economist believes that housing market will rebound on lower rates and increasing sale.