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Majority of tenants 'willing to pay more rent'

Most people living in Australian property are willing to pay more rent, according to the results of Matusik Property Insights' 2011 Rental Market Survey.

The majority of people living in Australian property are willing to pay more rent, a new study has revealed.

 

 

According to Matusik Property Insights' 2011 Rental Market Survey, seven out of ten tenants are currently looking to buy.

 

 

Just over half of these hope to purchase a property within the next 12 months.

 

 

The majority of tenants, however, want to stay in their current accommodation and are willing to pay more rent rather than move.

 

 

Three-quarters of the survey's respondents said they are paying less than a third of their income on their rent, while half were paying less than a quarter.

 

 

Michael Matusik, director of Matusik Property Insights, said that this "strengthens their ability to absorb future rent increases".

 

 

Last month's RP Data-Rismark Home Value Index revealed that the weekly rental rates of properties in Australia's capital cities had risen by 4.6 per cent over the previous six months.

 

 

Posted by Steve Douglas

 

 

- property, tenant, rent

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