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Property rents have now increased for 35 consecutive months, according to CoreLogic, after the national rental index rose by another 0.6% in July.
The graph explains why rents have been going up and up over the past three years.
Vacancy rates in both the capital cities and regions are 1.6 percentage points below the long-term average. That means supply is low and demand is high β which has, naturally, pushed up rental rates.
That said, the tide may be turning:
* Vacancy rates have been edging higher over the past few months
* The July rental increase was the smallest since December 2021
Subiaco finance brokers are here to help
Interest rate rises are here, but you donβt have to fear with the right broker on your side.
The team at Sonam Capital are here to empower you through financial knowledge. Weβll take the time to get to know you and your unique situation and speak in a language you can understand, with strategies you can implement for the best possible outcomes.
Nick, Wayne and Amanda at Sonam Capital are your Subiaco finance specialists.
