August, 17, 2010, Sydney, Australia - Price for houses for rent continues to increase up more than nine times the rate of inflation due to a shortage of new home construction, according to development lobby group.
The average price for Rent in Sydney increased by 10 dollars a week in the past three months while in the previous year; it rose by 20 dollars a week, according to Real Estate Institute.
In inner-city Sydney suburbs, the regular weekly rent for a two-bedroom home is now $540 per week. It’s $25 higher compared to the price last three months.
A three-bedroom in the same region on average sets renters back $725 a week - up $25 in three months.
According to Aaron Gadiel, Urban Taskforce’s chief executive, the price increase is running at more than nine times the rate of inflation.
Real Estate Institute’s recent figures show that the most costly one-bedroom apartment can be found in Sydney’s inner-east and on the North Shore.
Souce: The Sydney Morning Herald News
The average price for Rent in Sydney increased by 10 dollars a week in the past three months while in the previous year; it rose by 20 dollars a week, according to Real Estate Institute.
In inner-city Sydney suburbs, the regular weekly rent for a two-bedroom home is now $540 per week. It’s $25 higher compared to the price last three months.
A three-bedroom in the same region on average sets renters back $725 a week - up $25 in three months.
According to Aaron Gadiel, Urban Taskforce’s chief executive, the price increase is running at more than nine times the rate of inflation.
Real Estate Institute’s recent figures show that the most costly one-bedroom apartment can be found in Sydney’s inner-east and on the North Shore.
Souce: The Sydney Morning Herald News
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