Booming Rental Market Hits New Records
Regional Markets Take Over
New South Wales has had the highest regional rental growth on record in the past year.
CoreLogic figures showed it's hit 11.3 percent across the country for the first time since the group began crunching the numbers about 16 years ago.
The Border Rental Market:
On average, it now costs $387 per week to rent a house in the Riverina.
That is an increase of almost 8.5 percent in the last 12 months.
Tim Lawless from CoreLogic said it's the same story in other regions around the state, particularly when looking at units.
“We are seeing regional New South Wales as one of the stronger markets in the around country. Regional New South Wales house rents are up by 10.7 percent, but unit rents are up 12.1 percent. A little bit stronger than the unit rent market which is quite different than Sydney, where unit rents are actually down over the year”, he said.
It’s a good time for any landlords in the regional rental markets.
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