Rents in the key markets of Sydney, Brisbane and Melbourne will rise sharply over the next 3 years as the supply of new housing falls well short of underlying demand.

This is the forecast of one of the agencies of L.J.Hooker in its monthly newsletter.

Quoting BIS Shrapnel’s managing director as its source, the newsletter suggested that Sydney would see the highest rises as its shortfall of dwelling stock against demand would climb to 67,000 homes by 2010.

The L.J.Hooker newsletter continued that based on this trend, rents for 3 bedroom houses are forecast to climb by 11% in 2007-08, 14% in 2008-09 and 10% in 2009-10. #

This entry was posted on Tuesday, November 13th, 2007 at 1:11 am by Emanila Team and is filed under Property Trends. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.