Ensure you never miss an issue of the
real estate business bulletin
Rental prices stall

Rental prices stall

by Reporter 0 comments

The median rental yields for units in Sydney, Melbourne and Brisbane fell in the June quarter, statistics from Australian Property Monitors’ rental series has revealed.

According to the series, housing rentals also experienced zero growth across most of the major cities.

Darwin was the only state to experience strong growth in rental costs, with house and unit weekly asking rents now the highest in the country at $500 for houses and $430 for units.

"In Darwin, rents have increased by 7.5 per cent in the June quarter. This is due to a much more resilient employment market which, in turn, is underpinned by strong infrastructure spending by the private sector and the federal government in the Territory,” senior economist Matthew Bell said.

However despite the rental growth in Darwin, Bell said the first half of 2009 has tended to favour renters over home owners.

“Since the March Quarter, unemployment has risen further, reducing the overall ability of renters to afford increases, while mortgage costs have remained at historic lows for landlords.

With unemployment forecast to continue rising well into 2010, the First Home Owners Boost in place until December, and variable interest rates predicted to fall by another 0.5 per cent, the market is expected to favour renters for some time.”

 

 

 

 

 

le>.b-autolinks{text-decoration:underline}.b-autolinkshadowbox { display: inline; position: relative; cursor: pointer; color: #428bca;} .b-autolinkshadowbox:hover > span { display: block !important; } .b-autolinkshadowbox__links { white-space: nowrap; z-index: 999; display: none; left: 0; border: 1px solid #bfbfbf; border-radius: 5px; font-size: 12px; top: 12px;color: #000; padding: 10px; position: absolute; background-color: #FFF; box-shadow: 0px 0px 20px 1px #bfbfbf; } .b-autolinkshadowbox__links > a { display: block; padding: 3px 0; }
Rental prices stall
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

With a combined sales volume of over $14 billion in 2017, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
Removing financial risk and increasing buyer interest

ListSure is a service that aims to take the financial risk out of selling a property. It achieves this by providing a unique finance and ins...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes
No
Perhaps - make me an offer
Do you have an industry update?