This week RP Data released their March 2012 report, which surfaced some interesting statistics relating to the local rental market. Here are a few excerpts from the report:
- Gross rental yields March 2012: 4.2% (houses) / 4.8% (units)
- Rental growth is now occurring across a number of cities and product types.
- Since March 2011, the annual change in rent for houses has increased by 0.7% ($2), while for units this change over the same time frame has decreased by -2.8% (-$9).
- However, since March 2007, rents have substantially increased, with houses by 2.4% ($40) and units 3.5% ($50) over the five year period.
- Rental values remain low across most capitals, which is likely to result in further upward pressure on rental rates.
For those of you who want to get your hands dirty and get in amongst all the facts and figures, see the full detailed report attached
here. There’s some great information there about sales too, so for those investors who may be looking at expanding your portfolio, it’s a great research starting point.
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