Australia’s residential property rental market is expected to see increases of up to 7 per cent during the course of 2011 - according to market analyst RP Data.
Rents in Australian capital cities increased by 1.4 per cent during the last three months of 2010 and rose by 4.2 per cent during last year.
Rents in regional markets did not change during the quarter and rose by 2.9 per cent in 2010.
With the expectation that rents will increase further during 2011, the prospects of renters moving into home ownership is likely to deteriorate further.
The latest ABS housing finance data shows that last November Victorian first-home buyers totalled 16.3 per cent of all owner-occupier purchasers - the lowest proportion of first-home buyers since May 2004.
With continuing strong population growth in Victoria - and, more specifically, Melbourne – it is suggested that there is a likelihood of increasing competition for rental stock.
Rents in Australian capital cities increased by 1.4 per cent during the last three months of 2010 and rose by 4.2 per cent during last year.
Rents in regional markets did not change during the quarter and rose by 2.9 per cent in 2010.
With the expectation that rents will increase further during 2011, the prospects of renters moving into home ownership is likely to deteriorate further.
The latest ABS housing finance data shows that last November Victorian first-home buyers totalled 16.3 per cent of all owner-occupier purchasers - the lowest proportion of first-home buyers since May 2004.
With continuing strong population growth in Victoria - and, more specifically, Melbourne – it is suggested that there is a likelihood of increasing competition for rental stock.
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