Where Perth rentals may go in 2011? There are both optimistic forecast and cautious opinion. According to Australian Property Monitors, $100 billion of resources projects will go ahead in Perth and this will lead to strong growth in the economy and wages and salaries. This will drive house price growth in Perth and put a …
Flood levy and investment property
Taxpayers earning over $50,000 a year will be hit with a new 12-month flood levy from July 1, 2011. Those earning between $50,000 and $100,000 a year would pay an additional 0.5 per cent flood levy tax, while those earning over $100,000 would pay an additional 1 per cent tax. For example, if you earn …
Rents would increase 2.8 to 7 percent in 2011
RP Data said rents in capital cities are expected to increase by around 7 per cent during 2011 compared with the 4.2 percent increase in 2010 while NAB’s residential property survey, which tipped moderate falls in house prices in 2011, said rents would increase 2.8 per cent in the same period, and 4.1 per cent …
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Latest Sydney house price predictions 2011
Overall the Sydney house prices are likely to decline by 0-4 percent in 2011 while the rents are likely to increase by more than 7 percent. Here are some Sydney house prices and rents predictions for 2011. (1) Vacancy rates to remain tight for most of the market and that means at least 7-9 per …
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Property prices went up by 30% to 92% in the past 5 years across capital cities
Sydney property prices went up by 30% while Darwin house prices increased by 92% and prices in Melbourne rose 61% in the past 5 years. Hobart had median price increases of 31% in the five years to the end of September 2010, RP Data’s property pulse report showed. Across Australia combined property values increased by …
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What is the average rent in Sydney?
Average weekly rent in Sydney have increased to $400 a week, an increase of $10 since last year, according to an article from the Sydney Morning Herald. This means the average monthly rent in Sydney in 2010 is about $1,733. Tenants in the outer-ring suburbs, such as Blacktown and Sutherland, faced the largest rises, with rent …
7 precent rent increase in 2010?
A property forecaster says rents are likely to climb between 6 and 7 per cent this year, after stagnating last year. The rental report by Australian Property Monitors shows average capital city rents increased by only 2 per cent last year but have already gone up 1.5 per cent in the first three months of …
House prices and rents are expected to rise in 2010
Without the required new home building to keep up with underlying requirements, house prices and rents are expected to continue pushing upwards through 2010, according to Housing Industry Association (HIA). The association is forecasting a moderate housing recovery in 2010 with about 152,000 dwelling starts. But that’s still below the 190,000 required to keep pace with …
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Rents in Sydney’s outer suburbs rise almost 10%
Rents for three-bedroom homes in Sydney’s outer suburbs rose an average of 9.4 per cent last year, despite the global financial crisis during which rents in inner suburbs went up by less than a quarter of that rate. The latest rent and sales report from Housing NSW reveals that the sharp increase in rents for …
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Investment property rents likely to rise up to 11% in 2010
Rents are set to soar by as much as 11 percent this year, as landlords seek to cover rising costs amid a strengthening economy. Rents for homes across Australia increased nationally by a mere two per cent in 2009 – the weakest annual increase since 2002, the Australian Property Monitors’ Quarterly Rental Report says. Matthew Bell, …
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Rising Rents and Home Prices in 2010
Australia’s rapidly growing population and overseas migration is set to underpin the Australian property market in 2010 according to Angus Raine, CEO, Raine & Horne. “Building approvals levels are currently running around 145,000 per year according to industry averages, which is well short of the new homes required to meet our rapidly growing population.” According …