RCR Finance Bulletin # 14 - Thursday 11th September 2008
Some "short but sweet" hot off the press information that crossed my desk today that I felt may be of interest to you..........................
Soaring rentals in the capital cities may soon lure investors back to the property markets.
Property figures released by Real Estate Institute of Australia (REIA) yesterday revealed record low vacancy rates in most capital cities during the quarter, while median rents continued to boom.
According to The Real Estate Market Facts June quarter report
- Darwin vacancies sat at just 0.3% (the lowest national figure) – while the median weekly rent was $510 p.w...............substantially higher than in any other city
- In Perth, median weekly rents for houses grew by a substantial 4.5% to $350 p.w. during the quarter, and in Sydney they rose 3.1% to $330 p.w.
- Brisbane’s weekly median unit rents grew by a staggering 6.7% to $325, followed closely by an increase of 5.6% to $380 in Sydney.
It appears things are significantly in favour of property investors, with indicators showing that those who can or are willing to invest in property, may well ride the upward wave of a rising rental market.
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