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Rental rates 'increased 4.6% over last 6 months'

A 4.6 per cent increase was recorded in the weekly rental rates of properties in Australia's capital cities over the past six months, new data has revealed.

The weekly rental rates of properties in Australia's capital cities have risen by 4.6 per cent over the past six months, new figures have shown.

 

 

According to the results of the latest RP Data-Rismark Home Value Index, the value of owner-occupied properties in the country's state capital cities softened.

 

 

"In contrast to the fall in home values, gross rental yields have been improving with apartments and houses now delivering a gross return of 4.9 per cent and 4.2 per cent, respectively, in March 2011," said RP Data research director Tim Lawless.

 

 

Mr Lawless went on to say that those looking to buy property in Australia are seeing their position improve, as household incomes are growing at six per cent per annum.

 

 

Last month, Matusik Property Insights' Matusik 2011 Rental Survey revealed that only 25 per cent of people in Australia pay more than a third of their income on their rent.

 

 

Posted by Craig Francis

- rent, property, prices

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