Rents set to skyrocket
By Andrea Lavigne
|
30 Nov 2009
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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