Very surprising but the cheaper rental properties are just set to be the landmark for the 2017, which is greatest news for the tenants. LJ Hooker, who is the head of the research Matthew Tiller indeed expects to see more households hold off on the buying and instead of stay in the rental market, with the potential for the further drop in rental costs to come. The paper also states that the affordability, the investor demands and the new supply will be contributing to making the renting more and more attractive than buying.
The REA Group chief economist Nerida Conisbee said, "I agreed with the LJ Hooker white paper and thought renters were set to do well coming into the new year".
“If you’re looking to buy at the moment then things are looking pretty unaffordable, but if you’re looking to rent you can do really well and a lot of people can afford to rent in places that they couldn’t afford to buy in,” Ms Conisbee said.
She in her real words reveal that the renting could provide the balanced lifestyle that people were seeking.
“One thing with buying property is that you don’t want to get yourself so highly leveraged that you can’t afford a decent lifestyle. There’s more to life than a mortgage,” Ms Conisbee said.
“In the last 12 months the cost of purchasing a unit in the CBD has dropped by 1.8 per cent while the cost of renting in the CBD has dropped by 3.8 per cent,” Ms Conisbee said.
So, here was the full view of the economists about the real estate condition. Now, the things remains in your hand that whether you want to move ahead in the buying line or in the renting line.