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The Reserve Bank of Australia says that although rents are about 30% higher than pre-pandemic levels, there are three reasons why rents are likely to keep rising.
1. βStrong population growthβ is increasing demand, particularly in major cities.
2. Average household size βremains well below pre-pandemic levelsβ, which is further bolstering demand.
3. βThe supply of new dwellings has also been constrained,β which means supply is failing to keep up with demand.
βThe rental market remains tight and the ongoing weakness in dwelling investment [i.e. home building] suggests this is unlikely to ease in the near term,β according to the Reserve Bank.
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.
