Rental Income Growth Rates, Rental News
To rent or buy property?
December 17, 2008 by Editor · Leave a Comment
Is there a certain stage as a renter that you say enough is enough and you decide that your next move is to purchase a home?
Recent research from RP Data shows that nationally over the past three years the average weekly rental rate for a house has jumped by a third.
As an example, three years ago the average Sydney house could be rented for $261 per week. Today, the average weekly rents have increased by 25 per cent.
With vacancy rates of around 1 per cent in Melbourne and Sydney and 1.7 per cent in Brisbane, this may just be the start with the landlord being the ultimate winner.
Is this the case? What is it that will tip you over the edge and make you a home owner – interest rates, rental stock shortages, rents, house prices stablising or just a stage of life?
By Michael McNamara www.smh.com.au
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