Australian rental sector 'strengthening'

Although the value of homes across Australia's state capital cities has fallen by 2.8 per cent in real terms since the start of 2011, there has been an improvement in the rental sector.

This is according to the latest RP Data - Rismark Home Value Index for October, with Rismark managing director Ben Skilbeck highlighting the changing fortunes of the lettings market.

"While homeowners and property investors have endured a 2.8 per cent tapering in actual home values over the course of 2011, rental growth has been very solid," he stated.

Mr Skilbeck cited figures from the Australian Bureau of Statistics, which show that rents have increased by between four and five per cent so far this year.

Source: PropertyShowrooms.com