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Anyone else notice that rents are going up?

Anyone else notice that rents are going up?

Old Jan 5th 2008, 4:43 am
  #16  
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Default Re: Anyone else notice that rents are going up?

There's a 2 bedroom unit on realestate.com in Ashgrove for $275 per week. It's obviously a break lease because in the small print it says rent will increase at end January to $350. $75 per week increase!
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Old Jan 5th 2008, 5:47 am
  #17  
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Default Re: Anyone else notice that rents are going up?

Rents here have shot up too in NZ Nerine.
But when we checked rentals in OZ, we have compared them to NZ rents and they almost match...
Big difference is.........salary in OZ is going to be almost 3 times we earn in NZ!
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Old Jan 5th 2008, 8:14 am
  #18  
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Default Re: Anyone else notice that rents are going up?

Originally Posted by Nerine
Guess eventually the rents will go so high that the negative gearing will disappear and then they'll unload them, great.....lots of cheap property flooding the market?
...there's no reason for landlords to offload positively geared properties. Negative gearing is the government's reward to private landlords for providing rental accomodation that the government doesn't in the form of social housing. A positively geared investment is however always more attractive than a negatively geared one.....after all you are only recovering at most around half of the loss....if you were actually making a profit instead then I would say the property is a keeper!
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Old Jan 7th 2008, 1:17 pm
  #19  
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Default Re: Anyone else notice that rents are going up?

Originally Posted by bcworld
...there's no reason for landlords to offload positively geared properties. Negative gearing is the government's reward to private landlords for providing rental accomodation that the government doesn't in the form of social housing. A positively geared investment is however always more attractive than a negatively geared one.....after all you are only recovering at most around half of the loss....if you were actually making a profit instead then I would say the property is a keeper!
That's right. The key point to establish as a renter is when your landlord bought into the market. In a rising market like the one we have experienced for the last few years, many landlords have been happy to negatively gear - effectively taking a loss on rental income, as they have done well on capital growth. It will be interesting to see what happens now that interest rates are rising and sale prices have slowed and, in Perth's case, actually gone backwards in certain suburbs. I for one would be nervous about continuing to hold onto a rental property in outlying suburbs purchased in the last 2 years with anything above 80% LVR when yields are so low - and there are plenty out there who on 90%+ LVR who bought into the idea that houses always increased in value without doing their sums on interest rates and rental yields. (Anyone doubting the naivity of many "mum & dad" property investors should check out the investment forums on somersoft.co.au)

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