Australian rents are surging. A two-bedroom in Teneriffe, Brisbane jumped from $800 to $1,300 a week, pushing renters to consider buying instead. Property owners are winning from the boom.
Certainly those people who own real estate are the big winners at the moment because of the rise in rents. And it's fair to say we are seeing a rental boom which has been long withheld in the marketplace. By way of example, the biggest rent increase we've seen— we have seen a $500 per week rent increase on a 2-bedroom apartment. In Tenerife, Brisbane, going from $800 a week to $1,300 a week in rent. Rents are certainly skyrocketing. I think anyone who is renting at the moment is starting to even question whether they should maintain being a renter or jump into the market.
