Sydney and Melbourne rents surge, but headed even higher

show rents in the Melbourne LGA rose 34 per cent in the 12 months to August 31.Advertisement

“Without any signs of a material rise in rental supply, the outlook for rents remains one of further growth,” says Tim Lawless, Corelogic’s research director, Asia Pacific. Andrew Wilson, chief economist at My Housing Market, says high rents reflect an undersupply of rental properties due to earlier lending policies to investors and developers that were too restrictive.Demand for rental accommodation would continue to increase, Wilson says, with the return of international students and boosted immigration placing further upward pressure on how much people pay.

jcollett_money Yes. Govt has no plan for inflation heading to 8%, interest rates will follow to 4%+, rents must follow. This cycle in in place, pre-election Labor said they had a plan… over 100 days in office… nothing, nada, zip. Albo is a spectator PM.

jcollett_money 200k extra people a year won't help.

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Sydney and Melbourne rents surge, but headed even higherThe return of international students and new boosted immigration numbers will likely place further upward pressure on rents, which are already surging at a rapid clip | jcollett_money jcollett_money Have you sacked BevanShields yet? jcollett_money If we can’t fix the housing crisis we may as well blow it up by making it way worse to breaking point of society. Perhaps it’s the only way to correct. jcollett_money Can we just get rid of all borders and be done with it
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