According to a research from Colliers International, more Australians will opt for rental dwellings in 2014. As property values continue to rise, building approvals for all dwellings – including apartments have increased to 43% late this year, as compared to 25% in 2009.
Sydney and Melbourne are predicted to lead the pack, as increase demand for property is forecasted to continue next year. Continued increase in property values in capital cities have prompted Australians to go with this alternative, with a staggering 11.6% rise in property prices for Sydney alone.
Read more about this on the Smart Property Investment website.