Rents go through the roof .... Ha

[AntC]

From: Anthony C


Anyone having trouble with vacancies, anyone had to drop their rents? I've had to drop one 20%, (not in Melb.) vacancy period too long.

Anyway check this out:

http://www.heraldsun.news.com.au/common/story_page/0,5478,4153028%255E2862,00.html

Summary:
RENTS are soaring in Melbourne, despite increased vacancy rates, a report reveals.

The median weekly rental price in Melbourne rose $10, or 5.3 per cent, to $200 in the year to September, the Office of Housing report shows.

Cheers Ant.




"Let us so live that when we come to die even the undertaker will be sorry."
--Mark Twain

 

[Sim]

Reply: 1
From: Sim' Hampel


Not exactly through the roof when you compare the increase in values in Melbourne over that period.

Rents may have gone up 5%, but values have gone up on average, what ? 10% ? 20% ?

So in nett terms, yields are dropping. Which is what we expect in a period of high growth.