Tenants are facing more steep increases as investment property owners look to offset continual interest rate whacks
A one-bedroom apartment at 709/68 Cambridge St, Collingwood, is for rent for $480 a week.
“Supply is still really low, inquiry is still really high, properties are leasing very quickly, migration is ramping up very quickly. Mr Kusher said Melbourne units had been “deeply unpopular” throughout the pandemic but were now rapidly rising as people returned to the inner suburbs. “The one offsetting factor would be household formation will probably slow because of cost of living,” she said.
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