Rental rates in some areas of Sydney (Glebe, Randwick and Potts Point) have increased by 11% at least. The average residential rent price in these areas works out $ 534 per week.
According to analysts of RUN Property Company, the largest increase of rental rates was recorded in Sydney’s Neutral Bay, where the average rent price grow more than by 12%, News reports.
The largest rent prices’ rise was in such Melbourne’s areas as Armadale, Glen Iris and Kew, where tenants should pay 10% more than one year ago. Housing rent went up by 9% in such districts as Fitzroy, Essendon, Fairfield, Brunswick and Moonee Ponds.
In Brisbane the largest prices’ rise was recorded in Nundah, Clayfield, St.Lucia, Logan Central. Housing rent prices have risen there by 5% year-on-year.
Analysts assure that many Australian tenants try to stay as long as possible because rental prices usually rise while sighing new contracts
