Landlords described sharply higher insurance, council rates, trades costs and mortgage repayments, with Domain reporting combined capital city rents at record highs of $650 for houses and $630 for units. Gross yields in Sydney had slipped to about 3.04 per cent, below typical investor loan rates. PIPA’s chair said one of her own repayments had risen by $1,600 a month, prompting some owners to raise rents or sell.
Reported by
Jessica Taulaga, Domain, 24 July 2024
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