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An interstate investor says he’s had to raise the rent on all 12 of his Queensland investment properties to cope with rising costs, with the highest jumping by as much as $140 a week. The founder of Sydney-based Cashflow Properties Bharat Patel said “there is a lot more behind the scenes”. “Rentals have increased since.
A combination of low rental stock and high demand continues to drive prices up across the country and experts say there’s no relief in sight, especially for tenants in capital cities. PropTrack’s latest Rental Report for the September quarter shows rental prices have increased at the fastest quarterly rate on record, surging by 4.3% in the past.
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