If you are a tenant feeling under pressure from high rental costs, it will be no surprise to learn that the asking price of rents have soared in many areas in the past year.
In a bit of good news, however, there was a slight slowdown in some areas of NSW in the three months to the end of June, according to data from Australian Property Monitors, a Fairfax Media-owned company.
In Sydney, where the rental market remains very tight rents are up 8.8 per cent to $650 for houses in the Botany Bay area, 8.4 per cent to $1000 a week in the Waverley area in the eastern suburbs, and 8.3 per cent to $650 in the Canada Bay area. However, by far the greatest increases occurred in country areas. Continue reading Country towns lead the way on rent increases