Brisbane rents are tipped to outperform Sydney and Melbourne after a year in the doldrums with growth of 8% predicted for this year. In an article by Melissa Ketchell in the Courier Mail on January 13th, Australian Property Monitors forecasts Brisbane median house rents will increase nearly $40 a week up to $400 per week by the end of the year.
APM economist, Matthew Bell notes that 2009 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 predicted that Brisbane and Perth would experience the biggest percentage rate rises as their property markets catch up on growth already seen in Sydney and Melbourne.
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