I just read a very interesting article on news.com.au regarding the shortage of rental property in metro areas of NSW.
Vacancy rates have now fallen to 1.2% in Sydney, and it is tipped to be permanent.
As I have previously posted, I predict a very strong rental market for the next 2 years and this article supports my theory. Investors - get ready for those rent increases, your property manager / portfolio manager should be keeping your rental return up to date. Tenants - my commiserations, if you can afford to buy do it if not brace yourself and hold on tight.
full article can be viewed here:
http://www.news.com.au/money/property/chronic-rental-shortage-a-fact-of-life-says-new-study/story-e6frfmd0-1225944035721www.news.com.au/money/property/chronic-rental-shortage-a-fact-of-life-says-new-study/story-e6frfmd0-1225944035721