The Australian Financial Review --- Page: 69 : 27 April 2007 Original article by Alexander Symonds
ABIX Summary
New data indicate that the average monthly rent in Australia has more than doubled in less than one year. Figures from the RUN property group suggest that the rents on its properties rose by an average of $A109.27 between November 2006 and February 2007. Up to 83 per cent of the 1,775 properties re-let by RUN over a four-month period were done so with an increase in rent. RUN CEO, Rob Farmer, says the rising rents have prompted some investors to return to the rental market. Economists have predicted that rents will continue to rise during 2007.
