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Sydney rents are rising significantly faster than wages, new data released from Housing NSW reveals.
According to the Housing NSW Rent and Sales Report, the median rent for a two bedroom unit in Sydney increased by 12.5 per cent over a twelve month period – despite the national CPI index rising by only 3.9 per cent over the same period.
The median rent for a three bedroom house increased by 14.3 per cent.
In some suburbs such as Ashfield, Leichhardt, Randwick and Ku-ring-gai the median rent for a three bedroom home rose by 20 per cent or more.
Housing minister Matt Brown said the figures confirmed “the pressure many households are feeling in the private rental market.”
Published 09-05-08
According to the Housing NSW Rent and Sales Report, the median rent for a two bedroom unit in Sydney increased by 12.5 per cent over a twelve month period – despite the national CPI index rising by only 3.9 per cent over the same period.
The median rent for a three bedroom house increased by 14.3 per cent.
In some suburbs such as Ashfield, Leichhardt, Randwick and Ku-ring-gai the median rent for a three bedroom home rose by 20 per cent or more.
Housing minister Matt Brown said the figures confirmed “the pressure many households are feeling in the private rental market.”
Published 09-05-08
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