Rents dropping, Vic

By Staff Reporter 19 March 2013 | 1 minute read

While many property owners are under the impression that rent is always increasing, new statistics show that rent can actually decrease over time.

SQM Research’s Weekly Rents Index recorded a 0.8 per cent year-on-year decrease in asking rental prices for Melbourne houses, while there was a 1.5 per cent year-on-year increase for units.

This may be indicative of soft landlord sentiment in the state, according to SQM Research’s managing director, Louis Christopher.

Across the country, however, the February results were largely flat for vacancy rates and results in the general rental market.

“Residential rental vacancy rates remained unchanged once again at a rate that is illustrative of a landlord's market,” Mr Christopher said.

“While there should be a move of renters turning themselves into first home buyers this year, it does not seem to be at this stage a major shift.”

RELATED TERMS

Index

An index, also known as property index, shows the price trends and investment performance of a property which includes the potential rental income, changes of its value, and their return on investment.

Property

Property refers to either a tangible or intangible item that an individual or business has legal rights or ownership of, such as houses, cars, stocks or bond certificates.

Real estate

Real estate is a type of real property that refers to any land and its permanent improvement or structures that come with it, whether natural or man-made.

Real estate

Real estate is a type of real property that refers to any land and its permanent improvement or structures that come with it, whether natural or man-made.

Rent

Rent refers to the payment made by a tenant periodically to a landlord for the use and occupancy of a property.

Rent

Rent refers to the payment made by a tenant periodically to a landlord for the use and occupancy of a property.



Rents dropping, Vic
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