Rental price increases. Over the course of 2022 calendar year, we witnessed many changes in the property market.
One of the more notable highlights and warmly welcomed by property investors (landlords) we the recent rise in rental yields. The residential property market has seen a shortage in supply for places to rent. The high demand has placed upward pressures on asking rental prices.
According to CoreLogic the median rent for residential property on a combined capital basis nationally increased by approximately 10.2% during the year. The combined regional areas throughout Australia increased by 8.4%. The table below highlights rental price increases, demonstrating the national rents, yields and vacancy rate figures.
What to do next?
In the year of 2023, sensible and strategic planning will see you find some great investment value in the property market. Seeking professional advice is the key to your success. If you have developed adequate equity, this may be an incredible opportunity to enhance your wealth and taking the next step to reaching a successful retirement.
If you’d like to learn more about buying an investment property, please don’t hesitate to contact us. We would welcome the opportunity to help with your property purchase.
Our YouTube channel and Market Insights also provide a wealth of information to assist you with many areas relating to property.
While we have taken care to ensure the information above is true and correct at the time of publication, changes in circumstances and legislation after the displayed date may impact the accuracy of this article. If you want to learn more, please contact us. We welcome the opportunity to assist you.
February 2023
