Demand for inner-city apartments in Sydney is expected to increase slightly this year, with a substantial upturn forecast for late next year, according to new research.
Property forecaster and industry analyst BIS Shrapnel expected the recovery in the number of new apartments being built in the inner Sydney area to be triggered by strong rental market fundamentals, which will result in an anticipated 29% growth in rents over the three years to 2010.
However, any significant upturn in prices and purchaser demand in the short term will be delayed by rising interest rates, according to BIS Shrapnel’s Inner Sydney Apartments, 2007 to 2014 report.
Other news stories appearing in Issue 10 of Your Investment Property on sale now include:
* Rudd government doubles rental affordability targets
* Property market to lure investors away from shares
* Stock market refugees turn to the safe havens of property
