Sydney Renters To Brace For Steep Increases
January 14th, 2010
SMH has reported that Sydney tenants should be ready due to the end of the downturn in 2009, landlords may seek to increase rents as a stronger economy returns. A combination of low new building approvals, increased land taxes, low vacancy rates, stronger economy & incentives for first home buyers ending would drive rental prices up. Most suburbs around the inner west, north shore and northern beaches would be affected most by these factors. Simon Reibelt from Oasis Home Loans Northern Beaches said that due to the increasing rental prices that would be forthcoming in 2010, some renters could look at entering the property market as interest rates were still quite low.