Data compiled by CBRE has revealed an overall increase in typical industrial rents across the country in the last quarter.
According to the report, the market has now broken a four-year high, with rental growth in the majority of the eight regional capitals.
Perth saw the biggest year-on-year gains in the three months to the end of September at 4.5 per cent. Elsewhere, rents rose 0.8 per cent in Canberra, 1.1 per cent in Adelaide, 2.4 per cent in Sydney, 2.5 per cent in Brisbane and 4.1 per cent in Melbourne.
The report stated that a decline in new property supply has helped push up rents in recent months.
Reserve Bank of Australia head of economic analysis Jonathan Kearns recently told Australian Property Investor that there is growing demand for all forms of rental property across the country at present.
He commented: "For the past seven years or so, real rents have been rising and the vacancy rate has been below its long-run average."
Posted by Steve Douglas
