“INVESTORS will be smiling but renters could be feeling the pain if the prediction of rising rents from Australian Property Monitors eventuates. After a year in the doldrums, Brisbane rents are tipped to outperform Sydney and Melbourne with growth of 8 per cent predicted this year.
Australian Property Monitors forecasts Brisbane median house rents will increase nearly $40 a week up to $400 a week by the end of the year. Brisbane\'s median house rents will outstrip that of Melbourne if the forecasts are correct.
APM economist Matthew Bell said last year was the weakest for rent growth nationally since 2002.
The national median increased just 2 per cent, compared with 12 per cent in 2007 and 2008.
Mr Bell said an improved jobs outlook meant renters would be in a better position to manage predicted increases during the year.
Brisbane and Perth are tipped to show the biggest percentage rate rises as their property markets catch up on growth already seen in Sydney and Melbourne.”
*Source: Courier Mail – 13th Jan 10
