Will rents keep rising???
Recent data from the REIA shows that rents have increased by around 25% in the last three years. The question is can this continue?
Michael Matusik thinks so!
Research by Matusik Property Insights shows that in 2004 , 25% of the average renter’s income went into paying their rent . Today it is around 26% .
While some renters are finding it tough, depending on the city, the report suggests that in general renters can afford to pay more. Matusik suggests that rentals are going to rise significantly over the next three years with an average increase of 35% by 2010.
REIA figures for the September quarter show vacancy rates in all capital cities averaging 1.9% . Noel Dyett (REIA president ) says a vacancy rate below 3% is regarded as an under-supply
Article supplied by MRD
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