What is contributing to the high cost of rent in Australia. In this market insight, we share several factors that contribute to the high cost of rent in Australia. Supply and Demand Imbalance: Many major cities in Australia, such as Sydney, Melbourne, and Brisbane, face a significant imbalance between housing supply and demand. Population growth, urbanization trends, and limited land availability...
The relationship between rent and inflation is typically intertwined, as changes in inflation can influence rental prices, and rental prices can also contribute to inflation. Here’s how they are connected: Inflation Impact on Rent: Cost Push Inflation: When overall prices rise due to factors like increased production costs (e.g., raw materials, wages), landlords may raise rents to cover higher...
Why is property rent so high in Melbourne? There are several factors that contribute to high property rent in Melbourne. Supply and Demand: Melbourne is a rapidly growing city with a booming population. High demand for rental properties often outstrips the available supply, leading to higher rents. Limited Land Availability: Melbourne is geographically constrained, surrounded by water and green belts,...
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...
There are some new changes to the Residential Tenancies Act scheduled to take effect on the 29th of March 2021. In the market insight we offer you some important amendments that may impact you and your investment property. Before making an informed decision, we encourage you to discuss your personal circumstances with your property manager in advance. Here is a summary of the new changes to take...
To our beloved pet owners, everyone would agree that our pet is part of the family. Many Australians are now living in apartments located closer to the city. Keeping a happy pet in an apartment is important too. Here we offer some tips to keeping a happy pet. Apartment living There has been a growing trend in Australia, most notably in Melbourne. Apartment living has become popular...
If you are an existing landlord or tenant, you probably know what rental bond is. If you haven't, in this market insight we discuss what a rental bond is and how they are used. What is a rental bond? A rental bond is a payment the tenant makes when signing up for a rental property. If you want to rent a property most landlords will ask you to pay a rental bond before you move in. The rental bond is a...
We have all contemplated whether it is better buying or renting property. In many cases, this is an easy conclusion, but many factors can create differing views. Traditionally, owning a home was seen as a priority. A sense of independence and financial well being. In recent decades, this philosophy has changed. Housing prices and the cost of living has made owning a home more challenging than ever...
When leasing a property most would recognise it as the biggest expense in your budget. What ways can you pay rent? If you are unable to cover your monthly rent, the landlord can issue a notice to vacate. In this article we outline what ways you can pay your rent which may best suit your circumstances. Direct Debit: The most common preferred payment for a property manager is an automatic transaction. The...
Melbourne was blessed with a colourful Autumn, but now winter is upon us and the cold and frosty mornings are already here. Some love the raining nights while being tucked under a warm heavy blanket while others simply freeze no matter what they wear or do... Here are a some tips to keeping warm this winter. Check your heater The heater hasn't been on for while and it may have collected some dust...