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BONDI RENTS SHOOT UP BY 22%

 

Rents being asked for in Bondi/Waverley have increased by more than 22% in the past year, according to a report in the Daily Telegraph.

The report, based on figures from Core Logic Data, show that the demand for rental property in the Eastern Suburbs rose sharply in 2015-16. (By contrast, rents in the Western Suburbs have increased by less than 2% in the same period.)

One reason for the increase in the Eastern Suburbs and Inner City has been people selling their homes and being reluctant to commit to new property, and are biding their time by renting, one estate agent explained.

Empty-nesters and young professionals are the main demographic group seeking rental space in the Eastern Suburbs, he added.

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