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Sydney's strong rental growth 'will support home prices'

Property prices across Australia are being supported by the strong rental growth being witnessed in the country's capital city markets, Chan and Naylor has claimed.

The strong rental growth being witnessed in Sydney and other capital city markets will help to support property prices across Australia, Sal Carrero, chief executive at Chan and Naylor, has explained.

His comments follow those of McGrath Estate Agents' managing director John McGrath reported on smartcompany.com.au, which stated that the price of Australian property in Sydney could increase by ten per cent over the next 12 months.

"Increasing yields on investment property will support investor confidence in the market and indicates there is still value to be had for buyers," Mr Carrero told API magazine.

He went on to say that the property market in the country "continues to offer good prospects over the medium to long term".

Mr Carrero stressed homebuyers should view property as an investment for the medium to long term, so that they are protected against the potentially volatility of the market and unknown global economic factors.

Posted by Ravin Chatlani 

- Sydney, rent, home, prices, property

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