2010 to be Year of the Residential Rent Rise as Landlords Pass Interest Rate Rises to Renters

LAST year was the weakest year for rental growth since 2002, and the aftermath of the September 11 terrorist attacks, according to a new report by Australian Property Monitors.

The latest APM report shows a 2 per cent national increase for rents, down on the rate of 12 per cent, during the “boom” 2007 and 2008 conditions.

The winding down of the first home buyers grant, better employment prospects, strong house price growth and low vacancy rates will all contribute to a stronger year for rental growth in 2010, The Australian reports.

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New Victorian Urban Growth Boundary Proposed: Government Statements and Fast Facts

The public and community have been invited to make submissions on the proposed changes to Melbourne’s Urban Growth Boundary (UGB) flagged last December in the Brumby Labor Government’s Melbourne @ 5 Million strategy.

Planning Minister Justin Madden today released the draft UGB as part of the Brumby Labor Government’s Delivering Melbourne’s Newest Sustainable Communities package.

The draft UGB also incorporates the proposed alignment of the Outer Metropolitan Ring Road, proposed alignment of the Regional Rail Link and the creation of two new grassland protected areas in Melbourne’s west.

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