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Rental prices expected to increase dramatically as Australia’s international border reopens
Rental prices expected to increase dramatically as Australia’s international border reopens 6 January 2022 Matthew Hughes Article by: Chantelle Francis, Journalist Source: News.com.au December 06, 2021 Experts are expecting rental prices to increase dramatically as Australia’s international borders reopen. Renters have been warned to start preparing for higher housing costs, with 22 of 30 economists and property experts from the latest Finder RBA Cash Rate Survey saying they expect rental prices to increase significantly in 2022. “The pandemic turned the rental market on its head in some areas, with vacancy rates increasing in major capital cities like Sydney and Melbourne,” Finder head of consumer research Graham Cooke said. He told news.com.au there was a lack of demand for rentals as Aussie students moved home or international students moved back overseas during lockdown last year, but the market was now recovering. “There are huge increases in investor loans and a lot of that I’d say is driven by people thinking the rental market is looking more secure than it did last year,” Mr Cooke said. “All the indications are that this trend will continue.” As international students and b
Renters have been warned to start preparing for higher housing costs, with experts saying they expect rental prices to increase significantly.