balkanghost

We 're deaf to the Australian economy's screeching tyres.


Market tilts in renters' favour Australian rental property market.

DrWho

Shock, Horror...!

An Australian media publication actually talking some sense instead instead of blindly trying to talk everything through the roof...

Some personal experiences here on Sydney's Northern Beaches...

We haven't had a rent increase for 20 months and are pretty damn sure if we stay here that we won't get one in November when our 3 year anniversary is up...

We looked at a really nice property in Newport Beach about a month ago that had had to come down from $850pw to $750pw to try and shift it... 18 months ago it would easily have got $850pw...

Have a look at SQM research for an idea of true vacancy rates...

There are lots of people in building/construction around here that are losing their jobs... 2 big electricians have laid a lot of people off and many developments have been shelved...

Having said that we're really busy and looking to take 2 fridgies on over the next few weeks... but generally our trade is pretty quiet at the moment...

Just my 2c...

Burbage

If I were you I'd be letting the landlord know that you might be looking for somewhere cheaper.

DrWho

They got a phone call from the agent for that Newport property and were on the phone to us immediately... wanted to know if there was anything they could do for us once we said that we were just looking and weren't going to go for it...

ABCDiamond

The article quotes:
The fact that "mortgage costs have remained at historic lows for landlords" in June has continued to take pressure off landlords to raise rates, today's report said.

A $300,000 mortgage dropping from 8% to 6% saves the landlord about $115 per week in reduced Interest charges.

They don't need to increase rents.