Wednesday, April 6, 2011

Meanwhile rents have gone up

In every capital city except for Sydney, Melbourne and Darwin, house rentals have gone up according to RP Data. Rents increased by 1.4% across Australia and almost 3% in capital cities. The lack of development in 2011 and buyers holding out from buying a new property due to property prices, rental pressure upwards has been the inevitable result.
House rents in Sydney, Melbourne and Darwin were flat in the March quarter but rose 1.4 per cent in Brisbane, 1.3 per cent in Perth and 1.5 per cent in Adelaide over the same three months, RP Data said. In Canberra house rents increased 2 per cent in the quarter, while in Hobart they rose 3 per cent.

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