tenants are paying even more than we thought


With the rental market as robust as it’s in the meanwhile, it appears extra potential tenants are providing above the asking worth in an try to get their names on the lease.

(Picture: Adobe)

Renters are paying landlords much more than the asking worth for a rental property, in keeping with new knowledge, revealing the rental disaster is much more acute than we thought. With rental vacancies decrease than ever earlier than, the follow of providing further to win the property is seemingly widespread, the Australian Bureau of Statistics (ABS) has revealed. 

We already knew marketed rents had been rising larger than common rents. If individuals with current leases had been paying $500 per week, for instance, the asking worth for brand new renters could be $600 and rising. Information from property agency CoreLogic confirmed marketed rents had risen 22% because the begin of 2020, whereas the common hire general had risen simply 5% since mid-2019, as the subsequent chart reveals. 

Rents*, June 2019 = 100

Learn extra concerning the rising rental disaster…

Turn out to be a subscriber to get full entry to the web site, in addition to our premium newsletters.

Be a part of us

Already a subscriber?

Share post:


More like this

Nagpur Rain, Nagpur Flood, Ambazari lake Waist-Deep Water Inside Nagpur Homes As Heavy Rain Batters City

<!-- -->Heavy Rains in Nagpur: Town acquired torrential...

Zelenskyy culminates Washington visit with a White House pledge of $128m | Russia-Ukraine war News

Ukrainian President Volodymyr Zelenskyy has made his second...

Women’s Reservation Bill Clears Parliament In Historic Step Towards Becoming Law

<!-- -->Ladies's Reservation: The large debate in Rajya...