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Melbourne rents rise over last quarter

By Jamil Allouche

The latest CoreLogic RP Data Quarterly Rental Review has offered some insight into the growth of Melbourne's rental market, which could be a good incentive for buyers interested in purchasing investment property in Carlton

Across the whole nation, annual advertised rents rose by 2.6 per cent since December 2013. More specifically, in Melbourne the median rent rose by 1.3 per cent over the year to December 2014. The median rent for a house saw a 1.3 per cent over the last 12 months, while units rose by 1.4 per cent. 

CoreLogic RP Data research analyst Cameron Kusher said that while rental growth remained slow, there were definite signs of growth seen nationwide. 

"Given the recent high number of dwelling approvals and commencements coupled with the high level of purchase activity from investors, we would anticipate that the rate of rental growth will remain soft throughout 2015," said Mr Kusher in an 8 January statement. 

He went on to say these developments would hinge more on wider economic conditions. However, with the current low interest rates expected to remain, now could be a good time to consider getting in touch with a local real estate agent to start looking into the local property options available to you. 

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