Asking rent prices aren’t showing signs of moderating in 2015 - despite record levels of investor activity and increased dwelling construction.
This should be welcome news for property investors this year.
In most capital cities asking rents have remained at or near record levels over the last quarter, according to the Domain Group Rental Report.
The overall vacancy rate in December was recorded at 2.4%, with the rate for houses at 2% and units at 3%.
and Hobart recorded increases in the median asking rent for houses while all other capital cities remained steady over the December quarter.
Median weekly asking rents for units in all capital cities, except Melbourne and Perth
, remained steady or increased over the quarter.
Domain Group’s senior economist Andrew Wilson believes this is a trend which we will see continue over the coming year.
“Despite record level investor activity and increased dwelling construction, demand for rental properties continues to outstrip supply, resulting in tight vacancy rates and high asking rents in most capital cities,” he said.
“Upward pressure on rents is set to continue through 2015, particularly in the robust Sydney market where underlying demand continues to outstrip supply.”
With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now
Top Suburbs :
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out