Rents set to skyrocket
By
Andrea Lavigne
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30/11/2009 12:00:00 AM
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High demand and low apartment vacancy is expected to push rental rates up sharply for the next two years.
BIS Shrapnel's Residential Property Prospect, 2009-2012, forecasts an annual rate rise of 5% in the country's major cities.
The report indicates the worst city will be Sydney, which will have a vacancy rate of under 1% next year and rents will rise by 7%.
Investor demand and the increased number of renters becoming home owners is expected to drive up house prices.
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