Australia's rental market will only get tighter in 2023. Could more property investors be the answer?

 Renting in a capital city in 2023 is set to become harder as increasing demand and insufficient supply continue to drive up prices, experts predict.

Brendan James has felt the consequences of the tightening rental market firsthand.

The 32-year-old musician was told his rent would go up by more than 22 per cent at the end of his lease agreement. 

Come April, Brendan's two-bedroom unit in Kedron, on Brisbane's north side, will go from $440 to $540 a week.

He said he was told the increase would bring the property in line with similar apartments in the building.

Read More: https://www.abc.net.au/news/2023-01-19/australias-rental-market-to-tighten-in-2023-2024/101860220



Comments

Post a Comment

Popular posts from this blog

The Future of Retail Space In Australia Commercial Property Market

Image
 Hey people, I have been working in the retail industry for years. The sector used to be a thriving part of the Australian economy until we had to suffer the COVID-19 pandemic impact. It was much worse for retail than industrial and office commercial properties. Many small businesses closed and others had to rely on government’s help to remain in business. However, we managed to pull out of the dark times and are now looking at the silver lining. We have now our own ecommerce store and are building AI capabilities in the store to make it more immersive for in-store customers. Here is an article that will help you understand this better. https://www.commercialproperty2sell.com.au/blog/2023/04/the-future-of-retail-space-in-australias-comm.php
Read more

The Australian city where house prices are growing by Olympic proportions

Image
 Brisbane is now the fastest-growing capital city property market in Australia, after house and unit medians skyrocketed 32.1 per cent and 9.3 per cent respectively in just one year. Domain’s House Price Report for the March quarter revealed house prices in the Sunshine State capital rose a remarkable $553 per day to a record $831,346 – the steepest annual upswing in 18 years. Units jumped $37,299 to a record $437,034 median, their sharpest annual rise in 14 years. Domain chief of research and economics Dr Nicola Powell said a unique cocktail of ingredients was behind the surge that, unlike Sydney and Melbourne, was far from fizzling out. Read More: https://www.smh.com.au/property/news/the-australian-city-where-house-prices-are-growing-by-olympic-proportions-20220427-p5aggm.html
Read more

Shalom House invites critics to inspect facilities amid dispute over property near primary school

Image
 Christian-based rehabilitation centre Shalom House has invited critics to scrutinise its facilities, amid community concerns over a proposed location for its new residential quarters. Shalom House intends to move some of its female residents to a former nursing home, situated between a primary school and children's daycare centre. Locals have voiced safety concerns over the location in Craigie, in Perth's north. However, Shalom House founder Peter Lyndon-James has urged people to see the program and its residents for themselves before making any judgements. Read More: https://www.abc.net.au/news/2022-12-09/shalom-house-rehab-new-property-craigie-school/101742766
Read more