Rents tipped to rocket in Sydney
Forecaster BIS Shrapnel said average rents in Sydney would rise by 5 per cent next year and by at least 10 per cent over the two years to 2008. BIS said the cumulative increase in average rents in Sydney could be as high as 40 per cent over the five years from 2006 to 2010. This is almost three times the rise in rents over the past five years. BIS say that too little land is being released for new housing in Sydney.