Fairfield, six kilometres north east of the Melbourne CBD, topped the list of suburbs to record inflation-busting rental growth for the year to January 2012 with rents rising 13.4% according to property manager Run Property.
Monthly Archive for February, 2012
I love Australia and its people. No other country or people have been kinder to Kim and me. So I write this blog with concern and hesitation, a little fearful for their future, as well as ours.
While property prices remained fairly subdued in 2011, weekly rents continued on an upwards path in most capital cities. Last year, Sydney was among the standout performers with rents increasing by an impressive 4.2 per cent for houses and 4.5 per cent for apartments. Great news for investors but spare a thought for all the tenants out there competing for their next home!
The first three years of US home prices coming down could be characterized as a reasonably steep downwards trajectory. Using a compounding growth rate, between April 2006 and April 2009 the annual rate of decline averaged 11.4% or 30.5% overall. Most of the home value destruction was over and done with in the first three years directly after the market peaked. Home values have come down a further 1.9% year on year (on average) since that time.
National Australia Bank has kicked off a home-loan war by pledging its standard variable rate will be lower than any of its major rivals for the rest of the year. The Reserve Bank is tipped to cut the official cash rate to 4 per cent today – its third consecutive reduction in interest rates – in a bid to provide some relief to struggling households.